Analysts forecast that Paramount Group Inc (NYSE:PGRE) will announce $191.50 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Paramount Group’s earnings, with the lowest sales estimate coming in at $191.02 million and the highest estimate coming in at $191.98 million. Paramount Group reported sales of $191.42 million during the same quarter last year, which indicates a positive year over year growth rate of 0%. The firm is expected to report its next earnings results on Wednesday, August 7th.
On average, analysts expect that Paramount Group will report full-year sales of $777.11 million for the current financial year, with estimates ranging from $763.48 million to $795.14 million. For the next financial year, analysts forecast that the business will report sales of $800.91 million, with estimates ranging from $770.57 million to $839.39 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Paramount Group.
Paramount Group (NYSE:PGRE) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.21). Paramount Group had a return on equity of 0.24% and a net margin of 1.53%. The business had revenue of $191.79 million during the quarter, compared to analysts’ expectations of $187.26 million. During the same period in the prior year, the firm posted $0.23 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis.
Several research analysts have weighed in on PGRE shares. Zacks Investment Research raised Paramount Group from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Morgan Stanley raised Paramount Group from an “underweight” rating to an “equal weight” rating and set a $14.46 price target on the stock in a research report on Wednesday, March 13th. Finally, Evercore ISI raised Paramount Group from an “in-line” rating to an “outperform” rating in a research report on Monday, April 1st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.15.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Jefferies Group LLC lifted its position in shares of Paramount Group by 45.9% during the 1st quarter. Jefferies Group LLC now owns 30,549 shares of the financial services provider’s stock valued at $433,000 after buying an additional 9,606 shares during the last quarter. Heitman Real Estate Securities LLC lifted its position in shares of Paramount Group by 15.3% during the 1st quarter. Heitman Real Estate Securities LLC now owns 1,925,930 shares of the financial services provider’s stock valued at $27,329,000 after buying an additional 256,093 shares during the last quarter. Utah Retirement Systems lifted its position in shares of Paramount Group by 2.2% during the 1st quarter. Utah Retirement Systems now owns 53,833 shares of the financial services provider’s stock valued at $764,000 after buying an additional 1,157 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Paramount Group by 401.0% during the 1st quarter. Hsbc Holdings PLC now owns 160,873 shares of the financial services provider’s stock valued at $2,283,000 after buying an additional 128,764 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Paramount Group by 6.1% during the 1st quarter. Geode Capital Management LLC now owns 2,714,740 shares of the financial services provider’s stock valued at $38,522,000 after buying an additional 156,044 shares during the last quarter. 67.92% of the stock is currently owned by hedge funds and other institutional investors.
PGRE stock traded up $0.09 during midday trading on Wednesday, hitting $14.65. The company’s stock had a trading volume of 1,370,600 shares, compared to its average volume of 1,089,524. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 0.74. Paramount Group has a 1 year low of $12.18 and a 1 year high of $16.05. The stock has a market cap of $3.37 billion, a P/E ratio of 15.26, a P/E/G ratio of 3.49 and a beta of 0.87.
The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.73%. Paramount Group’s dividend payout ratio is presently 41.67%.
Paramount Group Company Profile
Headquartered in New York City, Paramount Group, Inc is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City, Washington, DC and San Francisco.
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