PJT Partners Q4 revenue slightly misses on lower interest income

Overview

• Global advisory-focused investment bank's Q4 revenue slightly missed analyst expectations

• Adjusted EPS for Q4 beat analyst expectations

• Company repurchased 2.4 mln shares during the year

Outlook

• Company did not provide specific guidance for future quarters or years

Result Drivers

• ADVISORY REVENUES - Increase driven by strategic advisory and restructuring revenues

• PLACEMENT REVENUES - Growth attributed to increases in fund placement and corporate placement revenues

• INTEREST INCOME DECLINE - Decrease due to lower interest rates, offset by favorable currency rates and equity securities valuation

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

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 $188.00, about 8% above its February 2 closing price of $174.00

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

Press Release: ID:nBw7Rxt3Fa

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