Analysts Anticipate Paramount Group Inc (PGRE) Will Announce Quarterly Sales of $179.11 Million
Brokerages forecast that Paramount Group Inc (NYSE:PGRE) will post $179.11 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Paramount Group’s earnings, with the lowest sales estimate coming in at $175.92 million and the highest estimate coming in at $182.29 million. Paramount Group posted sales of $166.80 million in the same quarter last year, which suggests a positive year-over-year growth rate of 7.4%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Paramount Group will report full year sales of $179.11 million for the current financial year, with estimates ranging from $698.18 million to $733.57 million. For the next fiscal year, analysts anticipate that the company will report sales of $752.61 million per share, with estimates ranging from $738.15 million to $769.55 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Paramount Group.
Paramount Group (NYSE:PGRE) last issued its earnings results on Monday, November 6th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. The company had revenue of $179.80 million for the quarter, compared to analysts’ expectations of $172.85 million. Paramount Group had a net margin of 12.29% and a return on equity of 1.76%. Paramount Group’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 EPS.
Shares of Paramount Group (NYSE:PGRE) remained flat at $$15.74 during mid-day trading on Friday. 1,839,700 shares of the stock traded hands, compared to its average volume of 1,163,984. The company has a market capitalization of $3,730.00, a P/E ratio of 18.60, a PEG ratio of 3.40 and a beta of 0.80. Paramount Group has a 52-week low of $15.14 and a 52-week high of $17.58.
Institutional investors and hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its position in shares of Paramount Group by 1.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,625 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 75 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Paramount Group by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,165 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 492 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of Paramount Group by 9.2% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 6,238 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 526 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Paramount Group by 2.4% during the 2nd quarter. Voya Investment Management LLC now owns 55,571 shares of the financial services provider’s stock worth $889,000 after acquiring an additional 1,317 shares in the last quarter. Finally, AMP Capital Investors Ltd boosted its position in shares of Paramount Group by 4.3% during the 3rd quarter. AMP Capital Investors Ltd now owns 80,019 shares of the financial services provider’s stock worth $1,280,000 after acquiring an additional 3,300 shares in the last quarter. 62.65% of the stock is currently owned by institutional investors.
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).
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