Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Paramount Group (PGRE) Share Price
Media stories about Paramount Group (NASDAQ:PGRE) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research group rates the sentiment of press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Paramount Group earned a media sentiment score of 0.04 on Accern’s scale. Accern also gave news coverage about the company an impact score of 46.3342096202435 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the media stories that may have impacted Accern Sentiment’s scoring:
- Paramount Group Inc (PGRE) Declares Quarterly Dividend of $0.10 (americanbankingnews.com)
- Bullish Two Hundred Day Moving Average Cross – PGRE (nasdaq.com)
- $0.21 EPS Expected for Paramount Group Inc (PGRE) This Quarter (americanbankingnews.com)
- Reviewing Corporate Office Properties Trust (OFC) and Paramount Group (PGRE) (americanbankingnews.com)
- Paramount Group, Inc. breached its 50 day moving average in a Bullish Manner : PGRE-US : September 8, 2017 (finance.yahoo.com)
Several equities analysts have recently issued reports on PGRE shares. Zacks Investment Research upgraded Paramount Group from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Wednesday, May 24th. Goldman Sachs Group, Inc. (The) started coverage on Paramount Group in a research report on Thursday, June 22nd. They set a “sell” rating and a $15.00 price target on the stock. Mizuho cut Paramount Group from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $17.00 to $15.00 in a research report on Monday, July 10th. Finally, Morgan Stanley cut Paramount Group from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $17.50 to $15.00 in a report on Tuesday, June 13th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $16.42.
Paramount Group (NASDAQ PGRE) opened at 16.01 on Friday. The firm has a market capitalization of $3.82 billion and a PE ratio of 37.94. Paramount Group has a one year low of $14.58 and a one year high of $17.58. The company has a 50 day moving average price of $15.91 and a 200-day moving average price of $16.14.
Paramount Group (NASDAQ:PGRE) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. Paramount Group had a net margin of 77.76% and a return on equity of 10.10%. The business had revenue of $177.70 million during the quarter, compared to analysts’ expectations of $170.11 million. During the same quarter in the prior year, the company earned $0.23 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities analysts predict that Paramount Group will post $0.42 EPS for the current year.
Paramount Group declared that its board has approved a share buyback program on Thursday, August 3rd that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.095 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.37%.
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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).
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