Analysts forecast that Paramount Group Inc (NYSE:PGRE) will announce earnings per share (EPS) of $0.23 for the current quarter, according to Zacks. Two analysts have issued estimates for Paramount Group’s earnings, with the lowest EPS estimate coming in at $0.22 and the highest estimate coming in at $0.24. 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 4.2%. The business is expected to announce its next quarterly earnings results on Monday, November 4th.
According to Zacks, analysts expect that Paramount Group will report full year earnings of $0.92 per share for the current financial year, with EPS estimates ranging from $0.89 to $0.93. For the next financial year, analysts expect that the company will report earnings of $0.95 per share, with EPS estimates ranging from $0.93 to $0.97. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Paramount Group.
Paramount Group (NYSE:PGRE) last released its earnings results on Wednesday, July 31st. The financial services provider reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.21). Paramount Group had a return on equity of 1.06% and a net margin of 6.77%. The firm had revenue of $188.58 million during the quarter, compared to analyst estimates of $187.21 million. During the same quarter last year, the business posted $0.24 EPS. The firm’s revenue was down 1.5% on a year-over-year basis.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Panagora Asset Management Inc. boosted its position in shares of Paramount Group by 101.8% in the second quarter. Panagora Asset Management Inc. now owns 90,716 shares of the financial services provider’s stock valued at $1,271,000 after acquiring an additional 45,768 shares during the period. Russell Investments Group Ltd. raised its holdings in Paramount Group by 17.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,698,327 shares of the financial services provider’s stock worth $37,494,000 after purchasing an additional 392,972 shares during the period. Prudential Financial Inc. raised its holdings in Paramount Group by 16.3% in the 2nd quarter. Prudential Financial Inc. now owns 134,900 shares of the financial services provider’s stock worth $1,890,000 after purchasing an additional 18,900 shares during the period. Acadian Asset Management LLC raised its holdings in Paramount Group by 67.3% in the 2nd quarter. Acadian Asset Management LLC now owns 82,946 shares of the financial services provider’s stock worth $1,163,000 after purchasing an additional 33,354 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Paramount Group by 6.6% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 40,294 shares of the financial services provider’s stock worth $565,000 after purchasing an additional 2,509 shares during the period. Hedge funds and other institutional investors own 60.60% of the company’s stock.
Shares of PGRE stock traded down $0.06 during mid-day trading on Tuesday, hitting $13.27. The stock had a trading volume of 1,840,081 shares, compared to its average volume of 1,284,493. Paramount Group has a fifty-two week low of $12.18 and a fifty-two week high of $16.05. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 3.34 and a beta of 0.76. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.74. The company has a 50-day simple moving average of $13.91.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Thursday, June 27th. Paramount Group’s dividend payout ratio (DPR) is 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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