Overview

* PJT Partners ( PJT ) 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/Mis Actual Consensu

s s

Estimate

Q3 Beat $447.10 $392.05

Revenue mln mln (5

Analysts

)

Q3 Beat $1.85 $1.43 (6

Adjusted Analysts

EPS )

Q3 $91 mln

Pretax

Profit

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 ( PJT ) 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:

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(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.)