Brokerages Expect Paramount Group Inc (PGRE) Will Post Earnings of $0.21 Per Share

Equities research analysts expect Paramount Group Inc (NYSE:PGRE) to announce earnings per share of $0.21 for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Paramount Group’s earnings. The highest EPS estimate is $0.22 and the lowest is $0.20. Paramount Group posted earnings of $0.18 per share in the same quarter last year, which indicates a positive year over year growth rate of 16.7%. The firm is scheduled to report its next earnings results after the market closes on Thursday, February 15th.

On average, analysts expect that Paramount Group will report full year earnings of $0.89 per share for the current year, with EPS estimates ranging from $0.87 to $0.92. For the next year, analysts anticipate that the business will report earnings of $0.94 per share, with EPS estimates ranging from $0.91 to $0.96. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Paramount Group.

PGRE has been the topic of a number of recent analyst reports. Zacks Investment Research raised Paramount Group from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Wednesday, November 15th. TheStreet raised Paramount Group from a “d+” rating to a “c-” rating in a research report on Thursday, December 21st. Finally, Goldman Sachs Group raised Paramount Group from a “sell” rating to a “neutral” rating and set a $16.00 target price on the stock in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.60.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of Paramount Group by 6.1% in the 4th quarter. BlackRock Inc. now owns 14,882,909 shares of the financial services provider’s stock valued at $235,895,000 after purchasing an additional 855,620 shares in the last quarter. Long Pond Capital LP increased its holdings in shares of Paramount Group by 2.9% in the 3rd quarter. Long Pond Capital LP now owns 14,606,205 shares of the financial services provider’s stock valued at $233,699,000 after acquiring an additional 406,833 shares during the last quarter. PGGM Investments increased its holdings in shares of Paramount Group by 2.0% in the 3rd quarter. PGGM Investments now owns 4,945,000 shares of the financial services provider’s stock valued at $79,120,000 after acquiring an additional 99,000 shares during the last quarter. State Street Corp increased its holdings in shares of Paramount Group by 1.3% in the 2nd quarter. State Street Corp now owns 4,774,995 shares of the financial services provider’s stock valued at $76,398,000 after acquiring an additional 62,796 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its holdings in shares of Paramount Group by 8.7% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 3,390,902 shares of the financial services provider’s stock valued at $54,254,000 after acquiring an additional 271,900 shares during the last quarter. 60.91% of the stock is currently owned by institutional investors.

Paramount Group (NYSE PGRE) opened at $14.21 on Monday. Paramount Group has a 52-week low of $13.76 and a 52-week high of $17.58. The stock has a market capitalization of $3,411.45, a P/E ratio of 38.41, a price-to-earnings-growth ratio of 3.05 and a beta of 0.67.

TRADEMARK VIOLATION WARNING: This piece of content was originally posted by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another website, it was copied illegally and republished in violation of international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/12/brokerages-expect-paramount-group-inc-pgre-will-post-earnings-of-0-21-per-share.html.

Paramount Group Company Profile

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).

Get a free copy of the Zacks research report on Paramount Group (PGRE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Paramount Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply