Paramount Group (NYSE:PGRE) Posts Quarterly Earnings Results, Meets Expectations

Paramount Group (NYSE:PGRE) released its earnings results on Thursday, February 15th. The financial services provider reported $0.22 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.22, Bloomberg Earnings reports. Paramount Group had a net margin of 12.02% and a return on equity of 1.75%. The company had revenue of $180.26 million during the quarter, compared to analysts’ expectations of $179.69 million. During the same quarter last year, the business earned $0.17 EPS. The business’s revenue was up 8.1% on a year-over-year basis. Paramount Group updated its FY18 guidance to $0.92-$0.96 EPS.

Shares of Paramount Group (NYSE:PGRE) traded up $0.34 during midday trading on Friday, hitting $14.35. 760,469 shares of the company traded hands, compared to its average volume of 1,260,984. Paramount Group has a 12-month low of $13.70 and a 12-month high of $17.58. The firm has a market capitalization of $3,368.40, a PE ratio of 38.78, a price-to-earnings-growth ratio of 3.00 and a beta of 0.67.

Several research firms have recently commented on PGRE. TheStreet upgraded shares of Paramount Group from a “d+” rating to a “c-” rating in a research note on Thursday, December 21st. Zacks Investment Research cut shares of Paramount Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Finally, Goldman Sachs Group upgraded shares of Paramount Group from a “sell” rating to a “neutral” rating and set a $16.00 target price 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 assigned a hold rating and two have given a buy rating to the company. Paramount Group presently has a consensus rating of “Hold” and a consensus target price 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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