Overview

* PJT Partners ( PJT ) Q2 revenue up 13% to $407 mln, beating analyst expectations

* Adjusted EPS rises 29% to $1.54, exceeding analyst estimates

* Company repurchased 2.1 mln shares, maintaining strong cash position

Outlook

* PJT Partners ( PJT ) did not provide specific future guidance

* Company remains confident in future growth prospects

Result Drivers

* STRATEGIC ADVISORY REVENUES - Increase driven by higher strategic advisory activities

* PLACEMENT REVENUES - Decline due to reduced fund placement revenues

* INTEREST INCOME - Growth attributed to increased fair market value of equity securities received as transaction compensation

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $406.90 $372.20

Revenue mln mln (5

Analysts

)

Q2 Beat $1.54 $1.43 (5

Adjusted Analysts

EPS )

Q2 $76.50

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "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 ( PJT ) is $167.50, about 9% below its July 28 closing price of $182.52

* The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 22 three months ago

Press Release:

(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.)