Zacks: Analysts Expect Paramount Group Inc (PGRE) to Post $0.23 Earnings Per Share

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Brokerages expect Paramount Group Inc (NYSE:PGRE) to report earnings of $0.23 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Paramount Group’s earnings. The highest EPS estimate is $0.23 and the lowest is $0.22. Paramount Group also posted earnings of $0.23 per share during the same quarter last year. The firm is scheduled to report its next earnings results after the market closes on Wednesday, May 1st.

According to Zacks, analysts expect that Paramount Group will report full-year earnings of $0.93 per share for the current year, with EPS estimates ranging from $0.86 to $1.00. For the next fiscal year, analysts forecast that the company will post earnings of $0.94 per share, with EPS estimates ranging from $0.88 to $0.97. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Paramount Group.

Paramount Group (NYSE:PGRE) last released its quarterly earnings results on Wednesday, February 13th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.21). Paramount Group had a net margin of 1.21% and a return on equity of 0.18%. The company had revenue of $190.68 million during the quarter, compared to analyst estimates of $186.53 million. During the same period in the prior year, the business posted $0.22 EPS. Paramount Group’s revenue was up 5.8% compared to the same quarter last year.

A number of research firms recently issued reports on PGRE. Zacks Investment Research cut shares of Paramount Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Morgan Stanley raised shares of Paramount Group from an “underweight” rating to an “equal weight” rating and set a $14.46 price target on the stock in a research note on Wednesday, March 13th. Finally, Evercore ISI raised shares of Paramount Group from an “in-line” rating to an “outperform” rating in a research note on Monday, April 1st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.15.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue boosted its stake in Paramount Group by 0.9% during the 1st quarter. State of Alaska Department of Revenue now owns 89,605 shares of the financial services provider’s stock worth $1,269,000 after purchasing an additional 799 shares during the last quarter. Utah Retirement Systems boosted its stake in Paramount Group by 1.5% during the 4th quarter. Utah Retirement Systems now owns 52,676 shares of the financial services provider’s stock worth $661,000 after purchasing an additional 800 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Paramount Group by 0.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 130,900 shares of the financial services provider’s stock worth $1,644,000 after purchasing an additional 800 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Paramount Group by 3.6% during the 4th quarter. Hsbc Holdings PLC now owns 32,109 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 1,111 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Paramount Group by 4.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 32,600 shares of the financial services provider’s stock worth $409,000 after purchasing an additional 1,300 shares during the last quarter. 68.64% of the stock is currently owned by institutional investors.

Paramount Group stock opened at $14.10 on Friday. Paramount Group has a 1 year low of $12.18 and a 1 year high of $16.05. The firm has a market capitalization of $3.37 billion, a P/E ratio of 14.69, a P/E/G ratio of 3.50 and a beta of 0.87. The company has a debt-to-equity ratio of 0.73, a quick ratio of 3.28 and a current ratio of 3.28.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.40 annualized dividend and a yield of 2.84%. Paramount Group’s dividend payout ratio (DPR) is presently 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.

Read More: What is the Ex-Dividend Date in Investing?

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