$190.09 Million in Sales Expected for Paramount Group Inc (PGRE) This Quarter

Wall Street analysts forecast that Paramount Group Inc (NYSE:PGRE) will announce sales of $190.09 million for the current quarter, according to Zacks. Two analysts have made estimates for Paramount Group’s earnings, with the highest sales estimate coming in at $191.14 million and the lowest estimate coming in at $189.03 million. Paramount Group reported sales of $184.27 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.2%. The company is scheduled to announce its next earnings results after the market closes on Wednesday, May 1st.

According to Zacks, analysts expect that Paramount Group will report full-year sales of $777.11 million for the current financial year, with estimates ranging from $763.48 million to $795.14 million. For the next year, analysts expect that the firm will report sales of $800.91 million, with estimates ranging from $770.57 million to $839.39 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for 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 for the quarter, missing the consensus estimate of $0.23 by ($0.21). Paramount Group had a return on equity of 0.18% and a net margin of 1.21%. The firm had revenue of $190.68 million for the quarter, compared to analysts’ expectations of $186.53 million. During the same quarter last year, the firm posted $0.22 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year.

A number of research firms have weighed in on PGRE. Zacks Investment Research upgraded shares of Paramount Group from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Morgan Stanley upgraded shares of Paramount Group from an “underweight” rating to an “equal weight” rating and set a $14.46 target price on the stock in a research note on Wednesday, March 13th. Finally, Evercore ISI upgraded 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Paramount Group presently has an average rating of “Hold” and an average price target of $17.15.

Paramount Group stock traded up $0.14 during midday trading on Tuesday, hitting $14.07. 867,048 shares of the stock were exchanged, compared to its average volume of 1,066,892. Paramount Group has a 52-week low of $12.18 and a 52-week high of $16.05. The stock has a market cap of $3.37 billion, a PE ratio of 14.66, a price-to-earnings-growth 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 business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend was Thursday, March 28th. Paramount Group’s payout ratio is 41.67%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Paramount Group by 3.9% in the third quarter. Vanguard Group Inc. now owns 30,802,997 shares of the financial services provider’s stock valued at $464,817,000 after purchasing an additional 1,144,629 shares during the period. Vanguard Group Inc increased its holdings in Paramount Group by 3.9% during the 3rd quarter. Vanguard Group Inc now owns 30,802,997 shares of the financial services provider’s stock worth $464,817,000 after acquiring an additional 1,144,629 shares during the period. Norges Bank bought a new stake in Paramount Group during the 4th quarter worth approximately $246,466,000. BlackRock Inc. increased its holdings in Paramount Group by 8.2% during the 3rd quarter. BlackRock Inc. now owns 16,614,899 shares of the financial services provider’s stock worth $250,719,000 after acquiring an additional 1,265,610 shares during the period. Finally, Morgan Stanley increased its holdings in Paramount Group by 6.4% during the 3rd quarter. Morgan Stanley now owns 8,551,935 shares of the financial services provider’s stock worth $129,048,000 after acquiring an additional 517,614 shares during the period. 68.64% of the stock is currently owned by institutional investors.

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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