Analysts expect Paramount Group Inc (NYSE:PGRE) to announce $0.22 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Paramount Group’s earnings, with estimates ranging from $0.20 to $0.23. Paramount Group reported earnings of $0.24 per share during the same quarter last year, which would indicate a negative year over year growth rate of 8.3%. The firm is expected to issue its next earnings results after the market closes on Wednesday, July 31st.
On average, analysts expect that Paramount Group will report full-year earnings of $0.92 per share for the current year, with EPS estimates ranging from $0.89 to $0.93. For the next fiscal year, analysts forecast that the company will post earnings of $0.95 per share, with EPS estimates ranging from $0.93 to $0.97. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow Paramount Group.
Paramount Group (NYSE:PGRE) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.21). The firm had revenue of $191.79 million for the quarter, compared to analysts’ expectations of $187.26 million. Paramount Group had a return on equity of 0.24% and a net margin of 1.53%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share.
Several brokerages have recently issued reports on PGRE. Zacks Investment Research upgraded Booz Allen Hamilton from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Friday, June 28th. Evercore ISI downgraded Essex Property Trust from an “outperform” rating to an “in-line” rating in a research report on Monday, April 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Paramount Group currently has a consensus rating of “Buy” and an average target price of $16.82.
PGRE traded down $0.18 during trading on Friday, reaching $13.72. 24,188 shares of the stock were exchanged, compared to its average volume of 1,081,795. The stock’s 50 day moving average price is $14.34. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.03 and a quick ratio of 3.03. The firm has a market capitalization of $3.26 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. Paramount Group has a 1 year low of $12.18 and a 1 year high of $16.05.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.40 annualized dividend and a dividend yield of 2.92%. Paramount Group’s dividend payout ratio is currently 41.67%.
Large investors have recently modified their holdings of the company. SG Americas Securities LLC lifted its position in shares of Paramount Group by 89.9% in the first quarter. SG Americas Securities LLC now owns 64,176 shares of the financial services provider’s stock valued at $911,000 after acquiring an additional 30,376 shares in the last quarter. HRT Financial LLC purchased a new stake in shares of Paramount Group in the fourth quarter valued at $151,000. Martingale Asset Management L P acquired a new position in Paramount Group in the first quarter valued at $8,220,000. Barclays PLC increased its stake in Paramount Group by 58.1% in the fourth quarter. Barclays PLC now owns 520,498 shares of the financial services provider’s stock valued at $6,537,000 after purchasing an additional 191,310 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Paramount Group by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,353,447 shares of the financial services provider’s stock valued at $42,120,000 after purchasing an additional 176,090 shares during the last quarter. Institutional investors and hedge funds own 60.85% of the company’s stock.
About Paramount Group
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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