Buy Or Sell Opportunity • Jun 03
Now 21% undervalued Over the last 90 days, the stock has risen 6.1% to US$155. The fair value is estimated to be US$195, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 32%. Upcoming Dividend • May 27
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 03 June 2026. Payment date: 17 June 2026. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of American dividend payers (4.2%). Lower than average of industry peers (2.1%). Buy Or Sell Opportunity • May 19
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at US$154. The fair value is estimated to be US$196, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 32%. Recent Insider Transactions Derivative • May 07
General Counsel notifies of intention to sell stock David Travin intends to sell 3k shares in the next 90 days after lodging an Intent To Sell Form on the 6th of May. If the sale is conducted around the recent share price of US$152, it would amount to US$457k. David now holds 5.05k shares directly in their own name. Company insiders have collectively sold US$4.9m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • May 04
Chief Financial Officer recently sold US$1.2m worth of stock On the 1st of May, Helen Meates sold around 8k shares on-market at roughly US$153 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Helen's only on-market trade for the last 12 months. Announcement • May 02
PJT Partners Inc., Annual General Meeting, Jun 18, 2026 PJT Partners Inc., Annual General Meeting, Jun 18, 2026. Declared Dividend • Apr 30
First quarter dividend of US$0.25 announced Dividend of US$0.25 is the same as last year. Ex-date: 3rd June 2026 Payment date: 17th June 2026 Dividend yield will be 0.7%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 14%. Cash payout ratio: 9%. Announcement • Apr 29
PJT Partners Inc. announces Quarterly dividend, payable on June 17, 2026 PJT Partners Inc. announced Quarterly dividend of USD 0.2500 per share payable on June 17, 2026, ex-date on June 03, 2026 and record date on June 03, 2026. Announcement • Apr 28
PJT Partners Inc. (NYSE:PJT) announces an Equity Buyback for $800 million worth of its shares. PJT Partners Inc. (NYSE:PJT) announces a share repurchase program. Under the program, the company will repurchase up to $800 million. Reported Earnings • Apr 28
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: EPS: US$2.31 (up from US$2.12 in 1Q 2025). Revenue: US$418.2m (up 29% from 1Q 2025). Net income: US$60.5m (up 12% from 1Q 2025). Profit margin: 14% (down from 17% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 160%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has increased by 32% per year whereas the company’s share price has increased by 34% per year. Announcement • Apr 22
PJT Partners Inc. to Report Q1, 2026 Results on Apr 28, 2026 PJT Partners Inc. announced that they will report Q1, 2026 results Pre-Market on Apr 28, 2026 Price Target Changed • Mar 12
Price target decreased by 7.0% to US$164 Down from US$177, the current price target is an average from 5 analysts. New target price is 27% above last closing price of US$129. Stock is down 7.8% over the past year. The company is forecast to post earnings per share of US$5.22 for next year compared to US$7.00 last year. Upcoming Dividend • Feb 25
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 04 March 2026. Payment date: 18 March 2026. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of American dividend payers (4.2%). Lower than average of industry peers (2.2%). Declared Dividend • Feb 05
Fourth quarter dividend of US$0.25 announced Dividend of US$0.25 is the same as last year. Ex-date: 4th March 2026 Payment date: 18th March 2026 Dividend yield will be 0.6%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 14%. Cash payout ratio: 8%. Reported Earnings • Feb 04
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: US$7.00 (up from US$5.28 in FY 2024). Revenue: US$1.71b (up 15% from FY 2024). Net income: US$180.1m (up 34% from FY 2024). Profit margin: 11% (up from 9.0% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 22%. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 29% per year. Announcement • Feb 03
PJT Partners Inc. Declares Quarterly Dividend on Class A Common Stock, Payable on March 18, 2026 The Board of Directors of PJT Partners Inc. declared a quarterly dividend of $0.25 per share of Class A common stock. The dividend will be paid on March 18, 2026 to Class A common stockholders of record as of March 4, 2026. Board Change • Feb 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. Director Peter L. Currie was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 28
PJT Partners Inc. to Report Q4, 2025 Results on Feb 03, 2026 PJT Partners Inc. announced that they will report Q4, 2025 results on Feb 03, 2026 Upcoming Dividend • Nov 26
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 03 December 2025. Payment date: 17 December 2025. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of American dividend payers (4.5%). Lower than average of industry peers (2.0%). Declared Dividend • Nov 06
Third quarter dividend of US$0.25 announced Dividend of US$0.25 is the same as last year. Ex-date: 3rd December 2025 Payment date: 17th December 2025 Dividend yield will be 0.6%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 14%. Cash payout ratio: 9%. Announcement • Nov 05
PJT Partners Inc. Declares Quarterly Dividend on Class A Common Stock, Payable on December 17, 2025 PJT Partners Inc.'s board of directors declared a quarterly dividend of $0.25 per share of Class A common stock. The dividend will be paid on December 17, 2025 to Class A common stockholders of record as of December 3, 2025. New Risk • Nov 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 04
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: US$1.55 (up from US$0.87 in 3Q 2024). Revenue: US$447.1m (up 37% from 3Q 2024). Net income: US$39.8m (up 80% from 3Q 2024). Profit margin: 8.9% (up from 6.8% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 44%. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 29% per year. Announcement • Oct 22
PJT Partners Inc. to Report Q3, 2025 Results on Nov 04, 2025 PJT Partners Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 04, 2025 Upcoming Dividend • Aug 27
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 03 September 2025. Payment date: 17 September 2025. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (1.9%). Recent Insider Transactions • Aug 08
General Counsel recently sold US$407k worth of stock On the 31st of July, David Travin sold around 2k shares on-market at roughly US$178 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$3.0m. Insiders have been net sellers, collectively disposing of US$8.3m more than they bought in the last 12 months. Recent Insider Transactions • Aug 03
General Counsel recently sold US$407k worth of stock On the 31st of July, David Travin sold around 2k shares on-market at roughly US$178 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$3.0m. Insiders have been net sellers, collectively disposing of US$8.3m more than they bought in the last 12 months. Announcement • Aug 01
PJT Partners Inc. Appoints Peter L.S. Currie to Its Board of Directors and Audit Committee, Effective July 30, 2025 PJT Partners Inc. announced the appointment of Peter L.S. Currie to its Board of Directors (the “Board”), effective as of July 30, 2025. Mr. Currie has also been appointed to the Audit Committee of the Board. Mr. Currie is a highly experienced senior executive, having served in senior leadership roles in high-growth, technology-driven companies. Since 2005, Mr. Currie has served as President of Currie Capital LLC, a private investment firm. He previously served as Executive Vice President and Chief Administrative Officer of Netscape Communications Corporation and as Executive Vice President and Chief Financial Officer of McCaw Cellular Communications Inc. Prior to these roles, Mr. Currie spent nine years in investment banking at Morgan Stanley. In addition to his management experience, Mr. Currie has served on the boards of directors and audit committees of Twitter Inc., Schlumberger Limited, New Relic Inc., Clearwire Corporation, CNET Networks Inc., Safeco Corporation, and Sun Microsystems Inc. Mr. Currie previously served as President of the Board of Trustees of Phillips Academy and holds a B.A. in Economics and French Literature from Williams College and an M.B.A. from Stanford University. Declared Dividend • Jul 31
Second quarter dividend of US$0.25 announced Dividend of US$0.25 is the same as last year. Ex-date: 3rd September 2025 Payment date: 17th September 2025 Dividend yield will be 0.6%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 16%. Cash payout ratio: 8%. Reported Earnings • Jul 29
Second quarter 2025 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2025 results: EPS: US$1.27 (up from US$1.12 in 2Q 2024). Revenue: US$406.9m (up 13% from 2Q 2024). Net income: US$32.9m (up 16% from 2Q 2024). Profit margin: 8.1% (up from 7.9% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 29
PJT Partners Inc. Declares Quarterly Dividend on Class A Common Stock, Payable on September 17, 2025 The Board of Directors of the PJT Partners Inc. has declared a quarterly dividend of $0.25 per share of Class A common stock. The dividend will be paid on September 17, 2025 to Class A common stockholders of record as of September 3, 2025. Announcement • Jul 22
PJT Partners Inc. to Report Q2, 2025 Results on Jul 29, 2025 PJT Partners Inc. announced that they will report Q2, 2025 results on Jul 29, 2025 Price Target Changed • Jul 10
Price target increased by 7.6% to US$155 Up from US$144, the current price target is an average from 3 analysts. New target price is 13% below last closing price of US$179. Stock is up 60% over the past year. The company is forecast to post earnings per share of US$6.48 for next year compared to US$5.28 last year. Recent Insider Transactions • Jun 01
Non-Independent Director recently sold US$3.0m worth of stock On the 30th of May, K. Cornwell sold around 20k shares on-market at roughly US$151 per share. This transaction amounted to 69% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$9.1m more than they bought in the last 12 months. Recent Insider Transactions Derivative • May 30
Non-Independent Director notifies of intention to sell stock K. Cornwell intends to sell 10k shares in the next 90 days after lodging an Intent To Sell Form on the 29th of May. If the sale is conducted around the recent share price of US$151, it would amount to US$1.4m. Since September 2024, Cornwell's direct individual holding has increased from 2.34k shares to 28.85k. Company insiders have collectively sold US$6.1m more than they bought, via options and on-market transactions in the last 12 months. Upcoming Dividend • May 28
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 04 June 2025. Payment date: 18 June 2025. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (2.0%). Recent Insider Transactions • May 05
General Counsel recently sold US$709k worth of stock On the 2nd of May, David Travin sold around 5k shares on-market at roughly US$142 per share. This transaction amounted to 69% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$6.1m more than they bought in the last 12 months. Declared Dividend • May 01
First quarter dividend of US$0.25 announced Dividend of US$0.25 is the same as last year. Ex-date: 4th June 2025 Payment date: 18th June 2025 Dividend yield will be 0.7%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 16%. Cash payout ratio: 8%. Announcement • Apr 30
PJT Partners Inc., Annual General Meeting, Jun 18, 2025 PJT Partners Inc., Annual General Meeting, Jun 18, 2025. Reported Earnings • Apr 29
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: EPS: US$2.12 (up from US$1.27 in 1Q 2024). Revenue: US$324.5m (down 1.7% from 1Q 2024). Net income: US$54.0m (up 66% from 1Q 2024). Profit margin: 17% (up from 9.9% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) exceeded analyst estimates significantly. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 29
PJT Partners Inc. Declares Quarterly Dividend on Class A Common Stock, Payable on June 18, 2025 The Board of Directors of PJT Partners Inc. has declared a quarterly dividend of $0.25 per share of Class A common stock. The dividend will be paid on June 18, 2025 to Class A common stockholders of record as of June 4, 2025. Announcement • Apr 23
PJT Partners Inc. to Report Q1, 2025 Results on Apr 29, 2025 PJT Partners Inc. announced that they will report Q1, 2025 results on Apr 29, 2025 Price Target Changed • Apr 09
Price target decreased by 13% to US$148 Down from US$169, the current price target is an average from 4 analysts. New target price is 8.4% above last closing price of US$136. Stock is up 41% over the past year. The company is forecast to post earnings per share of US$4.03 for next year compared to US$5.28 last year. Upcoming Dividend • Feb 26
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 05 March 2025. Payment date: 19 March 2025. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of American dividend payers (4.5%). Lower than average of industry peers (2.0%). Declared Dividend • Feb 06
Fourth quarter dividend of US$0.25 announced Dividend of US$0.25 is the same as last year. Ex-date: 5th March 2025 Payment date: 19th March 2025 Dividend yield will be 0.6%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 19%. Cash payout ratio: 9%. Price Target Changed • Feb 05
Price target increased by 10% to US$170 Up from US$154, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of US$177. Stock is up 89% over the past year. The company is forecast to post earnings per share of US$4.34 for next year compared to US$5.28 last year. Reported Earnings • Feb 04
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: US$5.28 (up from US$3.24 in FY 2023). Revenue: US$1.49b (up 29% from FY 2023). Net income: US$134.4m (up 64% from FY 2023). Profit margin: 9.0% (up from 7.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.3%. Earnings per share (EPS) also surpassed analyst estimates by 62%. Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 04
PJT Partners Inc. Declares Quarterly Dividend, Payable on March 19, 2025 PJT Partners Inc. has declared a quarterly dividend of $0.25 per share of Class A common stock. The dividend will be paid on March 19, 2025 to Class A common stockholders of record as of March 5, 2025. Announcement • Jan 24
PJT Partners Inc. to Report Q4, 2024 Results on Feb 04, 2025 PJT Partners Inc. announced that they will report Q4, 2024 results on Feb 04, 2025 Price Target Changed • Dec 09
Price target increased by 8.6% to US$149 Up from US$137, the current price target is an average from 5 analysts. New target price is 6.1% below last closing price of US$159. Stock is up 64% over the past year. The company is forecast to post earnings per share of US$3.14 for next year compared to US$3.24 last year. New Risk • Nov 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Significant insider selling over the past 3 months (US$3.9m sold). Upcoming Dividend • Nov 27
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 04 December 2024. Payment date: 18 December 2024. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of American dividend payers (4.2%). Lower than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$161, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 17x in the Capital Markets industry in the US. Total returns to shareholders of 99% over the past three years. Declared Dividend • Nov 01
Third quarter dividend of US$0.25 announced Dividend of US$0.25 is the same as last year. Ex-date: 4th December 2024 Payment date: 18th December 2024 Dividend yield will be 0.7%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 24%. Cash payout ratio: 10%. Reported Earnings • Oct 29
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: US$0.87 (up from US$0.69 in 3Q 2023). Revenue: US$326.3m (up 17% from 3Q 2023). Net income: US$22.2m (up 27% from 3Q 2023). Profit margin: 6.8% (up from 6.3% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates by 25%. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • Oct 29
PJT Partners Inc. Declares Quarterly Dividend, Payable on December 18, 2024 PJT Partners Inc. declared a quarterly dividend of $0.25 per share of Class A common stock. The dividend will be paid on December 18, 2024 to Class A common stockholders of record as of December 4, 2024. Announcement • Oct 22
PJT Partners Inc. to Report Q3, 2024 Results on Oct 29, 2024 PJT Partners Inc. announced that they will report Q3, 2024 results on Oct 29, 2024 New Risk • Oct 21
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Significant insider selling over the past 3 months (US$3.6m sold). Price Target Changed • Oct 10
Price target increased by 7.8% to US$132 Up from US$122, the current price target is an average from 5 analysts. New target price is 5.5% below last closing price of US$140. Stock is up 77% over the past year. The company is forecast to post earnings per share of US$3.46 for next year compared to US$3.24 last year. Announcement • Sep 19
PJT Partners Inc. (NYSE:PJT) entered into an agreement to acquire Denovo Partners (DIFC) Limited. PJT Partners Inc. (NYSE:PJT) entered into an agreement to acquire Denovo Partners (DIFC) Limited on September 18, 2024. May Nasrallah will continue her existing leadership role in the Middle East, including covering the firm’s important clients in the region, while also becoming a key part of PJT Partners’ senior team as the firm expands internationally. The transaction is subject to regulatory approvals and other customary conditions and is expected to close in October 2024. Recent Insider Transactions Derivative • Sep 01
Non-Independent Director notifies of intention to sell stock K. Cornwell intends to sell 12k shares in the next 90 days after lodging an Intent To Sell Form on the 29th of August. If the sale is conducted around the recent share price of US$123, it would amount to US$1.4m. Since March 2024, Cornwell's direct individual holding has increased from 17.59k shares to 19.93k. Company insiders have collectively sold US$7.8m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Sep 01
Non-Independent Director recently sold US$1.9m worth of stock On the 30th of August, K. Cornwell sold around 16k shares on-market at roughly US$123 per share. This transaction amounted to 87% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$7.8m more than they bought in the last 12 months. Upcoming Dividend • Aug 28
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 04 September 2024. Payment date: 18 September 2024. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of American dividend payers (4.3%). Lower than average of industry peers (2.2%). Declared Dividend • Aug 01
Second quarter dividend of US$0.25 announced Dividend of US$0.25 is the same as last year. Ex-date: 4th September 2024 Payment date: 18th September 2024 Dividend yield will be 0.8%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has increased by an average of 22% per year over the past 8 years and payments have been stable during that time. EPS is expected to decline by 25% over the next 3 years. However, it would need to fall by 73% to increase the payout ratio to a potentially unsustainable range. Announcement • Aug 01
PJT Partners Inc. Declares Quarterly Dividend, Payable on September 18, 2024 The Board of Directors of PJT Partners Inc. has declared a quarterly dividend $0.25 per share of Class A common stock. The dividend will be paid on September 18, 2024 to Class A common stockholders of record as of September 4, 2024. Reported Earnings • Aug 01
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: US$1.12 (up from US$0.88 in 2Q 2023). Revenue: US$360.2m (up 4.0% from 2Q 2023). Net income: US$28.3m (up 28% from 2Q 2023). Profit margin: 7.9% (up from 6.4% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 28%. Earnings per share (EPS) also surpassed analyst estimates by 73%. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Announcement • Jul 23
PJT Partners Inc. to Report Q2, 2024 Results on Jul 30, 2024 PJT Partners Inc. announced that they will report Q2, 2024 results on Jul 30, 2024 Price Target Changed • Jul 12
Price target increased by 7.1% to US$105 Up from US$98.00, the current price target is an average from 5 analysts. New target price is 7.2% below last closing price of US$113. Stock is up 49% over the past year. The company is forecast to post earnings per share of US$3.38 for next year compared to US$3.24 last year. New Risk • Jun 13
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 137% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (137% increase in shares outstanding). Minor Risk Significant insider selling over the past 3 months (US$1.1m sold). New Risk • Jun 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (3.2% increase in shares outstanding). Significant insider selling over the past 3 months (US$1.1m sold). Recent Insider Transactions • Jun 06
Managing Partner recently sold US$1.1m worth of stock On the 3rd of June, Ji-Yeun Lee sold around 10k shares on-market at roughly US$107 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Ji-Yeun has been a net seller over the last 12 months, reducing personal holdings by US$4.6m. Upcoming Dividend • May 29
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 05 June 2024. Payment date: 20 June 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (2.3%). New Risk • May 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (3.2% increase in shares outstanding). Significant insider selling over the past 3 months (US$3.4m sold). Announcement • May 03
PJT Partners Inc. Declares Quarterly Dividend for Class A Common Stock Payable on June 20, 2024 The Board of Directors of PJT Partners Inc. declared a quarterly dividend of $0.25 per share of Class A common stock. The dividend will be paid on June 20, 2024 to Class A common stockholders of record as of June 5, 2024. Announcement • May 01
PJT Partners Inc., Annual General Meeting, Jun 20, 2024 PJT Partners Inc., Annual General Meeting, Jun 20, 2024, at 10:00 US Eastern Standard Time. Agenda: To consider the election to the Board of Directors of three Class III director nominees identified in Proxy Statement; to consider approval, on an advisory basis, of the compensation of company's Named Executive Officers as disclosed in Proxy Statement; to consider approval, on an advisory basis, of the frequency (every one, two or three years) of advisory votes to approve the compensation of company's Named Executive Officers; to consider ratification of the selection of Deloitte & Touche LLP as company's independent registered public accounting firm for 2024. Announcement • Apr 20
PJT Partners Inc. to Report Q1, 2024 Results on May 02, 2024 PJT Partners Inc. announced that they will report Q1, 2024 results on May 02, 2024 Buy Or Sell Opportunity • Mar 21
Now 21% overvalued Over the last 90 days, the stock has fallen 4.0% to US$95.89. The fair value is estimated to be US$79.37, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 17%. Recent Insider Transactions • Mar 05
Chief Financial Officer recently sold US$1.9m worth of stock On the 1st of March, Helen Meates sold around 18k shares on-market at roughly US$105 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Helen's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Mar 03
Chief Financial Officer notifies of intention to sell stock Helen Meates intends to sell 13k shares in the next 90 days after lodging an Intent To Sell Form on the 29th of February. If the sale is conducted around the recent share price of US$106, it would amount to US$1.4m. Since March 2023, Helen has owned 62.03k shares directly. Company insiders have collectively sold US$2.9m more than they bought, via options and on-market transactions in the last 12 months. Upcoming Dividend • Feb 27
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 05 March 2024. Payment date: 20 March 2024. Trailing yield: 1.0%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (2.3%). Recent Insider Transactions • Feb 14
General Counsel recently sold US$466k worth of stock On the 8th of February, David Travin sold around 5k shares on-market at roughly US$93.21 per share. This transaction amounted to 76% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$898k. Insiders have been net sellers, collectively disposing of US$5.3m more than they bought in the last 12 months. Declared Dividend • Feb 08
Fourth quarter dividend of US$0.25 announced Dividend of US$0.25 is the same as last year. Ex-date: 5th March 2024 Payment date: 20th March 2024 Dividend yield will be 1.0%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 22% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 7.6% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 07
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: US$3.24 (down from US$3.61 in FY 2022). Revenue: US$1.15b (up 13% from FY 2022). Net income: US$81.8m (down 9.6% from FY 2022). Profit margin: 7.1% (down from 8.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. 
