Paramount Group (NYSE:PGRE) released its quarterly earnings results on Monday. The financial services provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01), Briefing.com reports. Paramount Group had a negative net margin of 6.89% and a negative return on equity of 1.01%. The firm had revenue of $192.60 million for the quarter, compared to analysts’ expectations of $191.24 million. During the same quarter last year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Paramount Group updated its FY18 guidance to $0.93-0.95 EPS.
NYSE:PGRE traded up $0.12 during midday trading on Wednesday, hitting $14.45. The company had a trading volume of 79,174 shares, compared to its average volume of 2,135,959. Paramount Group has a 52-week low of $13.70 and a 52-week high of $16.50. The firm has a market capitalization of $3.42 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 5.08 and a beta of 0.68. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.49 and a current ratio of 2.49.
The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a $0.10 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.40 annualized dividend and a yield of 2.77%. Paramount Group’s dividend payout ratio (DPR) is presently 44.94%.
PGRE has been the subject of several research reports. ValuEngine lowered shares of Paramount Group from a “hold” rating to a “sell” rating in a research report on Monday, July 30th. Zacks Investment Research lowered shares of Paramount Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Deutsche Bank upped their target price on shares of Paramount Group from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, August 29th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $16.70.
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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