Brokerages Expect Paramount Group Inc (NYSE:PGRE) to Post $0.22 EPS

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Wall Street analysts forecast that Paramount Group Inc (NYSE:PGRE) will post earnings of $0.22 per share for the current 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 $0.23. Paramount Group posted earnings of $0.24 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 8.3%. The business is expected to issue its next quarterly earnings report after the market closes on Wednesday, July 31st.

According to Zacks, analysts expect that Paramount Group will report full-year earnings of $0.92 per share for the current year, with EPS estimates ranging from $0.89 to $0.93. For the next financial year, analysts expect that the business will report earnings of $0.95 per share, with EPS estimates ranging from $0.93 to $0.97. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Paramount Group.

Paramount Group (NYSE:PGRE) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.21). Paramount Group had a net margin of 1.53% and a return on equity of 0.24%. The firm had revenue of $191.79 million for the quarter, compared to analysts’ expectations of $187.26 million. During the same quarter in the previous year, the business earned $0.23 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis.

PGRE has been the topic of a number of research reports. Zacks Investment Research upgraded Booz Allen Hamilton from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Friday, June 28th. Evercore ISI downgraded Essex Property Trust from an “outperform” rating to an “in-line” rating in a research report on Monday, April 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $16.82.

NYSE PGRE traded down $0.18 during trading hours on Friday, reaching $13.72. 24,188 shares of the stock traded hands, compared to its average volume of 1,081,795. The firm has a 50 day moving average price of $14.34. Paramount Group has a 1 year low of $12.18 and a 1 year high of $16.05. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.03 and a current ratio of 3.03. The firm has a market cap of $3.26 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.40 annualized dividend and a dividend yield of 2.92%. Paramount Group’s dividend payout ratio is currently 41.67%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Machina Capital S.A.S. raised its stake in Paramount Group by 207.7% during the 2nd quarter. Machina Capital S.A.S. now owns 14,823 shares of the financial services provider’s stock valued at $208,000 after buying an additional 10,005 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Paramount Group by 80.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 19,977 shares of the financial services provider’s stock valued at $280,000 after buying an additional 8,887 shares during the last quarter. Exane Derivatives purchased a new stake in Paramount Group during the 2nd quarter valued at $193,000. First Trust Advisors LP raised its stake in Paramount Group by 183.4% during the 1st quarter. First Trust Advisors LP now owns 106,388 shares of the financial services provider’s stock valued at $1,510,000 after buying an additional 68,853 shares during the last quarter. Finally, Long Pond Capital LP purchased a new stake in Paramount Group during the 1st quarter valued at $89,089,000. Hedge funds and other institutional investors own 60.85% of the company’s stock.

About Paramount Group

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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