Q3 2016 EPS Estimates for Paramount Group Inc (PGRE) Lifted by Analyst
Paramount Group Inc (NASDAQ:PGRE) – Equities researchers at Capital One Financial Corp. lifted their Q3 2016 EPS estimates for Paramount Group in a research report issued to clients and investors on Tuesday. Capital One Financial Corp. analyst T. Lesnick now expects that the firm will earn $0.19 per share for the quarter, up from their previous estimate of $0.18. Capital One Financial Corp. also issued estimates for Paramount Group’s FY2016 earnings at $0.87 EPS.
A number of other brokerages have also weighed in on PGRE. BTIG Research initiated coverage on Paramount Group in a report on Thursday, August 25th. They issued a “neutral” rating on the stock. Zacks Investment Research raised Paramount Group from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Wednesday, October 5th. Finally, Deutsche Bank AG increased their price objective on Paramount Group from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, July 18th.
Paramount Group (NASDAQ:PGRE) traded up 0.38% on Thursday, reaching $15.79. The company had a trading volume of 88,357 shares. Paramount Group has a 1-year low of $14.23 and a 1-year high of $18.56. The stock’s 50 day moving average is $16.99 and its 200-day moving average is $16.65. The stock has a market capitalization of $3.47 billion and a P/E ratio of 526.33.
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Paramount Group (NASDAQ:PGRE) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The business earned $172.30 million during the quarter, compared to analysts’ expectations of $159.90 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Wednesday, September 28th.
Paramount Group Company Profile
Paramount Group, Inc is a 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 primarily through Paramount Group Operating Partnership LP.
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