Brokerages Anticipate Paramount Group, Inc. (PGRE) Will Announce Quarterly Sales of $169.96 Million

Wall Street analysts expect that Paramount Group, Inc. (NYSE:PGRE) will report sales of $169.96 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Paramount Group’s earnings, with estimates ranging from $169.36 million to $170.56 million. Paramount Group posted sales of $172.30 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.4%. The business is scheduled to announce its next quarterly earnings results after the market closes on Thursday, August 3rd.

According to Zacks, analysts expect that Paramount Group will report full-year sales of $169.96 million for the current fiscal year, with estimates ranging from $689.21 million to $732.41 million. For the next fiscal year, analysts expect that the company will report sales of $750.37 million per share, with estimates ranging from $710.22 million to $793.69 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Paramount Group.

A number of equities analysts have commented on the company. BidaskClub raised Paramount Group from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating on shares of Paramount Group in a report on Thursday, June 22nd. Finally, Morgan Stanley cut Paramount Group from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $17.50 to $15.00 in a report on Tuesday, June 13th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $15.50.

Paramount Group (NYSE:PGRE) opened at 16.37 on Friday. Paramount Group has a 1-year low of $14.58 and a 1-year high of $18.28. The stock has a 50 day moving average price of $16.04 and a 200 day moving average price of $16.35. The company’s market cap is $3.79 billion.

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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).

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