PJT Partners: Elite Firm With Unattractive Margins NYSE:PJT

Live educational sessions using site features to explore today’s markets. Our view is that the valuation is likely slightly rich, only because investors can get a « better » deal on the cheaper end with Raymond James or Stifel , or similar growth but better profitability with Houlihan or Moelis. PJT is valued at the top end of the peer group, with markets likely reflecting a premium from the average on its superior growth. Profitability delta between Houlihan / Moelis and PJT is to some extent offset by commercial superiority and better growth. PJT is performing relatively well, without standing out on a profitability basis. The positives are that the company has seen margin expansion in the last period, whereas the majority of its peers have seen a decline due to softer business.

• Short interest in PJT Partners has recently decreased by 0.54%, indicating that investor sentiment is improving.
• PJT Partners’ first day of trading was on October 1, 2015; on the same day, it became publicly traded, listing on the New York Stock Exchange under the symbol PJT.
• Given the cyclical nature of IB, the forecasts are not to be relied on, however, they can provide some useful directional information given analysts speak to Management.
• © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.

Market Cap is calculated by multiplying the number of shares outstanding by the stock’s price. To calculate, start with total shares outstanding and subtract the number of restricted shares. Restricted stock typically is that issued to company insiders with limits on when it may be traded.Dividend YieldA company’s dividend expressed as a percentage of its current stock price. PJT Partners, Inc. is a holding company, which engages in the provision of advisory-investment solutions. It specializes in strategic advisory, shareholder engagement, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors, and governments. The company was founded on November 5, 2014 and is headquartered in New York, NY.

Their PJT share price forecasts range from $85.00 to $88.00. On average, they predict the company’s stock price to reach $86.33 in the next year. This suggests a possible upside of 25.5% from the stock’s current price. View analysts price targets for PJT or view top-rated stocks among Wall Street analysts. PJT Partners Inc share price live 68.77, this page displays NYSE PJT stock exchange data.

PJT Partners (PJT) Misses Q4 Earnings and Revenue Estimates

Zacks Earnings ESP looks to find companies that have recently seen positive earnings estimate revision activity. The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season. In 2020, PJT achieved record revenue of $1.05 billion, more than double the revenue achieved five years prior. In 2020, the firm was rated « No. 3 Best Banking Firms for Business Outlook » by Vault.

70.29% of the stock of PJT Partners is held by institutions. High institutional ownership can be a signal of strong market trust in this company. This payout ratio is at a healthy, sustainable level, below 75%.

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About MarketBeat

Exchanges report short interest twice a month.Percent of FloatTotal short positions relative to the number of shares available to trade. Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

Bank of Montreal Can bought a new position in PJT Partners during the fourth quarter worth about $14,311,000. State of New Jersey Common Pension Fund D bought a new position in PJT Partners during the fourth quarter worth about $2,207,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PJT Partners by 5.5% during the fourth quarter.

Stock , PJT

It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures. Additionally, it provides private fund advisory and fundraising services for a range of investment strategies; and advisory services to GPs and LPs on liquidity and other structured solutions in the secondary market. The company was formerly known as Blackstone Advisory Inc. and changed its name to PJT Partners Inc. in March 2015. PJT Partners Inc. was incorporated in 2014 and is headquartered in New York, New York. PJT Partners Inc is an advisory-focused investment bank that offers a portfolio of advisory services designed to help its clients achieve their strategic objectives.

PJT is positioned perfectly to steal more market share and continue to grow rapidly. PJT is trading at the top end of the IB valuations, making it difficult to rate it a buy today. NIM is unattractive relative to other IBs, despite the better growth. Revenue has grown well, driven by strong MD recruitment and a solid client base.

Business Summary

The firm has a 50 day moving average of $74.40 and a 200-day moving average of $75.61. PJT Partners Inc. has a 12 month low of $62.52 and a 12 month high of $83.17. The firm has a market capitalization of $1.67 billion, a P/E ratio of 19.69 and a beta of 0.78. Interestingly, PJT is expected to grow, although marginally. Having looked at quite a few of the listed boutique investment banks, this is a rare sight.

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« Many Blackstone M&A bankers expected to depart ahead of spin off to Taubman ». In 2015, before the firm began operations, Taubman hired a number of senior European bankers to lead PJT Partners’ European operation. Soon after the firm was founded, former NBA Commissioner David J. Stern joined the firm as a senior adviser. PJT Partners doesn’t possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report.

Research Report for PJT

PJT Partners’ stock was trading at $73.69 at the beginning of the year. Since then, PJT shares have decreased by 6.7% and is now trading at $68.77. PJT Partners has a short interest ratio (« days to cover ») of 2.9, which is generally considered an acceptable ratio of short interest to trading volume.

This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.45%. JMP Securities increased their target price on shares of PJT Partners from $86.00 to $88.00 and gave the stock a « market outperform » rating in a research report on Monday, April 10th. StockNews.com began coverage on shares of PJT Partners in a research report on Thursday, March 16th.

Houlihan Lokey (HLI) Q3 Earnings Surpass Estimates

The firm is routinely cited as one of the best paying firm’s in the industry where average pay per head is ~$750,000 and has the highest pay for first year analysts. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 to -2 . This is a higher news sentiment than the 0.58 average news sentiment score of Finance companies. According to analysts’ consensus price target of $86.33, PJT Partners has a forecasted upside of 25.5% from its current price of $68.77. Represents the company’s profit divided by the outstanding shares of its common stock.

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. Verify your identity, personalize the content you receive, or create and administer your account. LP2.96Vanguard Total Stock Market Index Fund2.81BlackRock Institutional Trust Co. NA2.50Vanguard Small Cap Index Fund2.39abrdn, Inc.2.29State Street Corp.2.11Balyasny Asset Management LP2.01Shareholder percentage totals can add to more than 100% because some holders are included in the free float.

PJT Partners, Inc is a holding company, which engages in the provision of advisory-investment solutions. A number of other large investors have also added to or reduced their stakes in the stock. ProShare Advisors LLC purchased a new stake in PJT Partners during the fourth quarter worth about $224,000. Dfpg Investments LLC purchased a new stake in PJT Partners during the fourth quarter worth about $684,000.

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Conversely, NIM is disappointing, especially compared to the leading comps such as Evercore . Presented above is Analysts’ consensus view on PJT’s FY23. Given the cyclical nature of IB, the forecasts are not to be relied on, however, they can provide some useful directional information given analysts speak to Management.