Equities research analysts expect Paramount Group, Inc. (NYSE:PGRE) to announce $0.22 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Paramount Group’s earnings, with estimates ranging from $0.21 to $0.23. Paramount Group reported earnings of ($0.03) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 833.3%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, February 28th.
According to Zacks, analysts expect that Paramount Group will report full-year earnings of $0.88 per share for the current fiscal year, with EPS estimates ranging from $0.86 to $0.90. For the next financial year, analysts anticipate that the business will report earnings of $0.97 per share, with EPS estimates ranging from $0.91 to $1.06. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Paramount Group.
Paramount Group (NYSE:PGRE) last announced its quarterly earnings data on Monday, November 6th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Paramount Group had a return on equity of 1.76% and a net margin of 12.29%. The firm had revenue of $179.80 million for the quarter, compared to analysts’ expectations of $172.85 million. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Paramount Group’s revenue for the quarter was up 5.0% compared to the same quarter last year.
Several equities analysts have recently commented on PGRE shares. Zacks Investment Research lowered Paramount Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. TheStreet lowered Paramount Group from a “c” rating to a “d+” rating in a report on Thursday, November 16th. Four equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $16.42.
Shares of Paramount Group (PGRE) traded down $0.09 during midday trading on Friday, reaching $16.11. The company’s stock had a trading volume of 849,100 shares, compared to its average volume of 1,154,008. Paramount Group has a 12-month low of $15.14 and a 12-month high of $17.58. The firm has a market capitalization of $3,889.19, a PE ratio of 19.06, a P/E/G ratio of 3.07 and a beta of 0.80.
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A number of hedge funds have recently modified their holdings of PGRE. Public Employees Retirement Association of Colorado grew its holdings in Paramount Group by 9.2% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 6,238 shares of the financial services provider’s stock worth $100,000 after buying an additional 526 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Paramount Group by 1.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,625 shares of the financial services provider’s stock worth $122,000 after buying an additional 75 shares in the last quarter. Synovus Financial Corp bought a new position in Paramount Group in the 2nd quarter worth approximately $256,000. GAM Holding AG grew its holdings in Paramount Group by 37.7% in the 2nd quarter. GAM Holding AG now owns 16,813 shares of the financial services provider’s stock worth $269,000 after buying an additional 4,600 shares in the last quarter. Finally, Teton Advisors Inc. grew its holdings in Paramount Group by 37.7% in the 3rd quarter. Teton Advisors Inc. now owns 17,900 shares of the financial services provider’s stock worth $286,000 after buying an additional 4,900 shares in the last quarter. 62.39% of the stock is owned by institutional investors and hedge funds.
About Paramount Group
Paramount Group, Inc is a fully-integrated real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).
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