Paramount Group Inc (PGRE) Set to Announce Earnings on Tuesday
Paramount Group Inc (NASDAQ:PGRE) is set to post its quarterly earnings results after the market closes on Tuesday, October 31st. Analysts expect Paramount Group to post earnings of ($0.03) per share for the quarter. Paramount Group has set its FY17 guidance at $0.86-0.90 EPS.
Paramount Group (NASDAQ:PGRE) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $177.70 million during the quarter, compared to analyst estimates of $170.11 million. Paramount Group had a return on equity of 10.10% and a net margin of 77.76%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. On average, analysts expect Paramount Group to post $0.42 EPS for the current fiscal year and $0.01 EPS for the next fiscal year.
Paramount Group Inc (NASDAQ:PGRE) remained flat at $15.93 during midday trading on Tuesday. 88,908 shares of the company traded hands. The firm has a 50-day moving average price of $16.09 and a 200-day moving average price of $16.07. Paramount Group Inc has a 1-year low of $14.58 and a 1-year high of $17.58. The company has a market capitalization of $3.80 billion and a price-to-earnings ratio of 37.75.
Paramount Group announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 3rd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were paid a $0.095 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.38 annualized dividend and a yield of 2.39%.
Several analysts have recently issued reports on PGRE shares. Mizuho cut shares of Paramount Group from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $17.00 to $15.00 in a research note on Monday, July 10th. Zacks Investment Research raised shares of Paramount Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 29th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $16.42.
COPYRIGHT VIOLATION NOTICE: “Paramount Group Inc (PGRE) Set to Announce Earnings on Tuesday” was originally published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another publication, it was illegally copied and republished in violation of US & international trademark & copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2017/10/24/paramount-group-inc-pgre-set-to-announce-earnings-on-tuesday.html.
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).
Receive News & Ratings for Paramount Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.