Paramount Group (PGRE) Announces Earnings Results, Meets Expectations

Paramount Group (NYSE:PGRE) issued its quarterly earnings results on Thursday. The financial services provider reported $0.22 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.22, Bloomberg Earnings reports. The firm had revenue of $180.26 million during the quarter, compared to analysts’ expectations of $179.69 million. Paramount Group had a net margin of 12.02% and a return on equity of 1.75%. Paramount Group’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. Paramount Group updated its FY18 guidance to $0.92-$0.96 EPS.

Paramount Group (PGRE) opened at $14.30 on Friday. The company has a market cap of $3,493.42, a price-to-earnings ratio of 38.65, a price-to-earnings-growth ratio of 3.12 and a beta of 0.67. Paramount Group has a 12-month low of $13.70 and a 12-month high of $17.58.

PGRE has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Paramount Group from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Wednesday, November 15th. TheStreet cut shares of Paramount Group from a “c” rating to a “d+” rating in a research note on Thursday, November 16th. Finally, Goldman Sachs Group upgraded shares of Paramount Group from a “sell” rating to a “neutral” rating and set a $16.00 price target for the company in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Paramount Group currently has a consensus rating of “Hold” and a consensus price target of $16.60.

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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).

Earnings History for Paramount Group (NYSE:PGRE)

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