$0.23 Earnings Per Share Expected for Paramount Group Inc (NYSE:PGRE) This Quarter

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.

Several analysts recently commented on PGRE shares. ValuEngine cut shares of Paramount Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Paramount Group from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $16.82.

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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