REVENUE DRIVERS - Growth in strategic advisory, private capital solutions, and restructuring revenues drove higher Q2 revenue
EXPENSES - Higher compensation and benefits expense was driven by increased revenue, partially offset by a lower accrual rate
NON-COMPENSATION COSTS - Non-compensation expenses rose due to office expansion, increased travel, higher professional fees, and technology investments
Key details and analyst coverage
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$486.3 mln
$424.26 mln (6 Analysts)
Q2 Pretax Profit
$102.1 mln
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "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 $183.00, about 8.4% above its July 27 closing price of $168.82
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 18 three months ago
PJT•
