What Will The Effects of a BofA Merrill Downgrade Be For PJT Partners (PJT) Shares?

July 16, 2018 - By Mary Kidd

PJT Partners Inc. (NYSE:PJT) Logo

PJT Partners (PJT) Receives a Downgrade

In an analyst note issued to investors and clients on Monday, 16 July, BofA Merrill lowered shares of PJT Partners (PJT) to a lower Neutral rating from the previous Buy rating.

PJT Partners Inc. (NYSE:PJT) Ratings Coverage

Among 2 analysts covering PJT Partners (PJT), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. PJT Partners had 2 analyst reports since April 12, 2018 according to SRatingsIntel. As per Thursday, April 12, the company rating was maintained by Bank of America. The stock of PJT Partners Inc. (NYSE:PJT) has “Hold” rating given on Thursday, April 12 by Sandler O’Neill.

The stock decreased 4.58% or $2.61 during the last trading session, reaching $54.34. About 200,271 shares traded or 7.78% up from the average. PJT Partners Inc. (PJT) has risen 46.35% since July 16, 2017 and is uptrending. It has outperformed by 33.78% the S&P500.

Analysts await PJT Partners Inc. (NYSE:PJT) to report earnings on August, 1. They expect $0.38 EPS, up 40.74 % or $0.11 from last year’s $0.27 per share. PJT’s profit will be $13.20 million for 35.75 P/E if the $0.38 EPS becomes a reality. After $0.44 actual EPS reported by PJT Partners Inc. for the previous quarter, Wall Street now forecasts -13.64 % negative EPS growth.

PJT Partners Inc. provides various strategic advisory, restructuring and special situations, and private fund advisory and placement services to firms, financial sponsors, institutional investors, and governments worldwide. The company has market cap of $1.89 billion. It offers a range of financial advisory and transaction execution capability, including mergers and acquisitions, joint ventures, minority investments, asset swaps, divestitures, takeover defenses, corporate finance advisory, private placements, and distressed sales. It currently has negative earnings. The firm also advices companies, creditors, and financial sponsors on recapitalizations, reorganizations, exchange offers, debt repurchases, capital raises, and distressed mergers and acquisitions.

More news for PJT Partners Inc. (NYSE:PJT) were recently published by: Streetinsider.com, which released: “BofA/Merrill Lynch Downgrades PJT Partners (PJT) to Neutral” on July 16, 2018. Globenewswire.com‘s article titled: “Report: Developing Opportunities within Sonic Automotive, PJT Partners, YRC Worldwide, SecureWorks, Manhattan …” and published on June 22, 2018 is yet another important article.

PJT Partners Inc. (NYSE:PJT) Ratings Chart

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