Analysts Anticipate Paramount Group Inc (PGRE) to Post $0.21 EPS

Brokerages expect Paramount Group Inc (NYSE:PGRE) to post $0.21 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Paramount Group’s earnings. The lowest EPS estimate is $0.20 and the highest is $0.22. Paramount Group posted earnings of ($0.03) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 800%. The company is expected to announce its next earnings results on Wednesday, February 28th.

On average, analysts expect that Paramount Group will report full-year earnings of $0.90 per share for the current financial year, with EPS estimates ranging from $0.89 to $0.92. For the next year, analysts forecast that the company will report earnings of $0.94 per share, with EPS estimates ranging from $0.92 to $0.96. Zacks’ EPS averages are a mean average based on a survey of research analysts 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 for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. Paramount Group had a net margin of 12.29% and a return on equity of 1.76%. The business had revenue of $179.80 million during the quarter, compared to the consensus estimate of $172.85 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year.

PGRE has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Paramount Group from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Wednesday, November 15th. TheStreet lowered shares of Paramount Group from a “c” rating to a “d+” rating in a research note on Thursday, November 16th. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $16.40.

Several large investors have recently modified their holdings of PGRE. Public Employees Retirement Association of Colorado lifted its stake in shares of 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 acquiring an additional 526 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of 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 acquiring an additional 75 shares during the period. Synovus Financial Corp acquired a new stake in shares of Paramount Group in the 2nd quarter worth approximately $256,000. GAM Holding AG lifted its stake in shares of 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 acquiring an additional 4,600 shares during the period. Finally, Teton Advisors Inc. lifted its stake in shares of 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 acquiring an additional 4,900 shares during the period. 62.20% of the stock is owned by institutional investors.

Shares of Paramount Group (PGRE) remained flat at $$15.58 during trading hours on Friday. 647,888 shares of the stock traded hands, compared to its average volume of 1,280,000. Paramount Group has a fifty-two week low of $15.14 and a fifty-two week high of $17.58. The firm has a market cap of $3,720.00, a P/E ratio of 42.11, a P/E/G ratio of 3.48 and a beta of 0.80.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Thursday, December 28th. Paramount Group’s dividend payout ratio is currently 102.70%.

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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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