Zacks: Analysts Expect Paramount Group, Inc. (PGRE) Will Announce Quarterly Sales of $169.96 Million

Equities analysts expect Paramount Group, Inc. (NYSE:PGRE) to post $169.96 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Paramount Group’s earnings. The lowest sales estimate is $169.36 million and the highest is $170.56 million. Paramount Group reported sales of $172.30 million in the same quarter last year, which indicates a negative year-over-year growth rate of 1.4%. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, August 3rd.

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

A number of analysts recently weighed in on PGRE shares. BidaskClub upgraded shares of Paramount Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Morgan Stanley downgraded shares of Paramount Group from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $17.50 to $15.00 in a report on Tuesday, June 13th. Finally, Goldman Sachs Group, Inc. (The) restated a “sell” rating on shares of Paramount Group in a report on Thursday, June 22nd. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $15.50.

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Shares of Paramount Group (NYSE PGRE) traded up 0.24% on Friday, reaching $16.41. 1,024,779 shares of the company were exchanged. The stock has a 50 day moving average price of $16.05 and a 200-day moving average price of $16.35. Paramount Group has a 12 month low of $14.58 and a 12 month high of $18.28. The stock’s market capitalization is $3.80 billion.

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).

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