Wall Street analysts forecast that Paramount Group, Inc. (NYSE:PGRE) will post $172.06 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Paramount Group’s earnings, with the lowest sales estimate coming in at $163.33 million and the highest estimate coming in at $180.79 million. Paramount Group reported sales of $171.32 million in the same quarter last year, which would suggest a positive year over year growth rate of 0.4%. The business is expected to report its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Paramount Group will report full-year sales of $172.06 million for the current financial year, with estimates ranging from $698.18 million to $736.84 million. For the next financial year, analysts expect that the business will post sales of $756.62 million per share, with estimates ranging from $738.15 million to $781.59 million. Zacks’ sales averages are an average based on a survey of analysts that follow Paramount Group.
A number of research analysts recently weighed in on the stock. Goldman Sachs Group, Inc. (The) restated a “sell” rating on shares of Paramount Group in a research note on Thursday, June 22nd. Morgan Stanley cut shares of Paramount Group from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $17.50 to $15.00 in a research note on Tuesday, June 13th. Finally, BidaskClub cut shares of Paramount Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $15.50.
TRADEMARK VIOLATION NOTICE: “$172.06 Million in Sales Expected for Paramount Group, Inc. (PGRE) This Quarter” was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this story on another website, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this story can be read at https://ledgergazette.com/2017/10/11/172-06-million-in-sales-expected-for-paramount-group-inc-pgre-this-quarter.html.
Paramount Group (NYSE PGRE) opened at 16.23 on Wednesday. The company has a market cap of $3.88 billion, a PE ratio of 38.46 and a beta of 0.81. The stock has a 50 day moving average of $15.94 and a 200 day moving average of $16.07. Paramount Group has a 12-month low of $14.58 and a 12-month high of $17.58.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, September 28th. Paramount Group’s payout ratio is currently 92.69%.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.