PJT Partners (NYSE:PJT) Price Target Raised to $49.00

PJT Partners (NYSE:PJT) had its price target hoisted by Buckingham Research from $44.00 to $49.00 in a research note issued to investors on Monday, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

PJT Partners stock opened at $46.33 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.85 and a current ratio of 2.85. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 22.47 and a beta of 1.24. PJT Partners has a fifty-two week low of $35.99 and a fifty-two week high of $47.17. The stock’s fifty day moving average is $43.85 and its two-hundred day moving average is $41.36.

PJT Partners (NYSE:PJT) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The company had revenue of $174.23 million for the quarter. PJT Partners had a return on equity of 15.97% and a net margin of 3.13%.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Tuesday, December 3rd.

A number of institutional investors have recently bought and sold shares of the business. Advisors Capital Management LLC grew its holdings in PJT Partners by 15.5% in the fourth quarter. Advisors Capital Management LLC now owns 11,008 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 1,475 shares during the last quarter. Metropolitan Life Insurance Co NY grew its holdings in PJT Partners by 23.3% in the third quarter. Metropolitan Life Insurance Co NY now owns 7,704 shares of the financial services provider’s stock valued at $314,000 after purchasing an additional 1,455 shares during the last quarter. Squarepoint Ops LLC grew its holdings in PJT Partners by 22.8% in the third quarter. Squarepoint Ops LLC now owns 32,840 shares of the financial services provider’s stock valued at $1,337,000 after purchasing an additional 6,108 shares during the last quarter. State Street Corp grew its holdings in PJT Partners by 3.0% in the third quarter. State Street Corp now owns 449,358 shares of the financial services provider’s stock valued at $18,289,000 after purchasing an additional 13,039 shares during the last quarter. Finally, Monarch Partners Asset Management LLC acquired a new stake in PJT Partners in the third quarter valued at $3,529,000. 65.20% of the stock is currently owned by institutional investors.

PJT Partners Company Profile

PJT Partners Inc, an investment bank, provides various strategic advisory, shareholder engagement, restructuring and special situations, and private fund advisory and placement services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers a range of financial advisory and transaction execution capability, including mergers and acquisitions, joint ventures, minority investments, asset swaps, divestitures, takeover defenses, corporate finance advisory, private placements, and distressed sales.

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