Piper Jaffray Companies (PJC) Announces Quarterly Earnings Results, Misses Estimates By $0.24 EPS

Piper Jaffray Companies (NYSE:PJC) posted its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.92 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.24), Bloomberg Earnings reports. The business had revenue of $173.48 million during the quarter. Piper Jaffray Companies had a negative net margin of 9.68% and a positive return on equity of 11.40%.

Shares of NYSE:PJC opened at $76.90 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.54 and a quick ratio of 0.10. Piper Jaffray Companies has a 1 year low of $52.75 and a 1 year high of $99.80. The stock has a market cap of $1.17 billion, a PE ratio of 12.34 and a beta of 1.52.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 24th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, August 23rd.

Several large investors have recently modified their holdings of PJC. Victory Capital Management Inc. acquired a new position in Piper Jaffray Companies during the 2nd quarter worth approximately $22,813,000. Nuveen Asset Management LLC acquired a new position in Piper Jaffray Companies during the 1st quarter worth approximately $15,868,000. Matarin Capital Management LLC acquired a new position in Piper Jaffray Companies during the 1st quarter worth approximately $13,448,000. BlackRock Inc. lifted its position in Piper Jaffray Companies by 6.4% during the 2nd quarter. BlackRock Inc. now owns 2,085,687 shares of the financial services provider’s stock worth $160,285,000 after acquiring an additional 125,451 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Piper Jaffray Companies by 197.5% during the 4th quarter. Deutsche Bank AG now owns 150,956 shares of the financial services provider’s stock worth $13,018,000 after acquiring an additional 100,210 shares in the last quarter. Institutional investors and hedge funds own 71.75% of the company’s stock.

PJC has been the subject of a number of research reports. TheStreet upgraded Piper Jaffray Companies from a “c+” rating to a “b-” rating in a report on Friday, April 27th. Keefe, Bruyette & Woods cut Piper Jaffray Companies from an “outperform” rating to a “market perform” rating in a report on Monday, April 30th. Finally, ValuEngine upgraded Piper Jaffray Companies from a “hold” rating to a “buy” rating in a report on Thursday, May 17th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $86.00.

About Piper Jaffray Companies

Piper Jaffray Companies operates as an investment bank and asset management firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. The company's Capital Markets segment offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.

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Earnings History for Piper Jaffray Companies (NYSE:PJC)

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