Wall Street brokerages expect Paramount Group Inc (NYSE:PGRE) to announce sales of $191.50 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Paramount Group’s earnings, with the highest sales estimate coming in at $191.98 million and the lowest estimate coming in at $191.02 million. Paramount Group reported sales of $191.42 million during the same quarter last year, which would suggest a positive year over year growth rate of 0%. The firm is expected to issue its next earnings report after the market closes on Wednesday, July 31st.
On average, analysts expect that Paramount Group will report full year sales of $783.64 million for the current financial year, with estimates ranging from $772.72 million to $800.19 million. For the next financial year, analysts anticipate that the firm will report sales of $810.91 million, with estimates ranging from $792.78 million to $840.96 million. Zacks’ sales calculations 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 Wednesday, May 1st. The financial services provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.21). The company had revenue of $191.79 million for the quarter, compared to analysts’ expectations of $187.26 million. Paramount Group had a return on equity of 0.24% and a net margin of 1.53%. Paramount Group’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share.
Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Paramount Group in the 4th quarter worth $246,466,000. Long Pond Capital LP acquired a new stake in shares of Paramount Group in the first quarter valued at about $89,089,000. Deutsche Bank AG lifted its stake in shares of Paramount Group by 833.1% in the fourth quarter. Deutsche Bank AG now owns 4,491,829 shares of the financial services provider’s stock valued at $56,414,000 after purchasing an additional 4,010,438 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Paramount Group by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,353,447 shares of the financial services provider’s stock valued at $42,120,000 after purchasing an additional 176,090 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Paramount Group by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 2,558,696 shares of the financial services provider’s stock valued at $32,137,000 after purchasing an additional 99,267 shares during the period. Institutional investors own 60.85% of the company’s stock.
Shares of NYSE:PGRE traded down $0.24 during trading hours on Tuesday, reaching $13.66. The stock had a trading volume of 1,232,324 shares, compared to its average volume of 1,062,454. Paramount Group has a 1 year low of $12.18 and a 1 year high of $16.05. The business’s 50 day moving average is $14.33. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 0.74. The stock has a market cap of $3.20 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 3.48 and a beta of 0.76.
The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Thursday, June 27th. Paramount Group’s dividend payout ratio (DPR) is presently 41.67%.
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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