PJT Partners Q3 revenue up 37%, beats estimates

Reuters11-04
PJT Partners Q3 revenue up 37%, beats estimates

Overview

  • PJT Partners Q3 revenue grows 37% yr/yr, beating analyst expectations

  • Adjusted EPS for Q3 beats consensus, reflecting strong financial performance

  • Company repurchased 2.3 mln shares, indicating confidence in future growth

Result Drivers

  • STRATEGIC ADVISORY - Increase in strategic advisory revenues drove higher Q3 revenue

  • FUND PLACEMENT - Increase in fund placement revenues contributed to higher Q3 placement fees

  • BUSINESS DEVELOPMENT - Increased business development activity raised travel and related expenses

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$447.10 mln

$392.05 mln (5 Analysts)

Q3 Adjusted EPS

Beat

$1.85

$1.43 (6 Analysts)

Q3 Pretax Profit

$91 mln

Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the investment banking & brokerage services peer group is "buy."

  • Wall Street's median 12-month price target for PJT Partners Inc is $180.00, about 9.8% above its November 3 closing price of $162.42

  • The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 26 three months ago

Press Release: ID:nBw7YJf90a

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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