Paramount Group (NYSE:PGRE) Updates FY 2024 Earnings Guidance

Paramount Group (NYSE:PGRE) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.780-0.800 for the period, compared to the consensus earnings per share estimate of 0.780. The company issued revenue guidance of -.

Analysts Set New Price Targets

Separately, Wells Fargo & Company boosted their price target on Paramount Group from $3.50 to $4.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $4.38.

Paramount Group Trading Up 1.4 %

NYSE PGRE traded up $0.07 on Wednesday, reaching $5.05. 838,076 shares of the company were exchanged, compared to its average volume of 1,104,131. The business’s fifty day moving average price is $5.01 and its 200 day moving average price is $4.84. The stock has a market capitalization of $1.10 billion, a P/E ratio of -5.08 and a beta of 1.25. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.91. Paramount Group has a fifty-two week low of $4.06 and a fifty-two week high of $5.92.

About Paramount Group

Paramount Group, Inc (“Paramount” or the “Company”) is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.