Evercore ISI slashes price target on Paramount Group Inc. [PGRE] – find out why.

Paramount Group Inc. [NYSE: PGRE] closed the trading session at $6.54 on 10/19/20. The day’s price range saw the stock hit a low of $6.45, while the highest price level was $6.715. The company report on October 9, 2020 that Paramount Announces Release Date for Third Quarter 2020 Results.

Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it will file its quarterly report on Form 10-Q for the quarter ended September 30, 2020 with the U.S. Securities and Exchange Commission and release its third quarter 2020 financial results on Wednesday, October 28, 2020 after the end of trading on the New York Stock Exchange.

The Company will host a conference call and audio webcast on Thursday, October 29, 2020 at 10:00 a.m. Eastern Time (ET), during which management will discuss the third quarter results and provide commentary on business performance. A question and answer session with analysts and investors will follow the prepared remarks.

The stocks have a year to date performance of -53.02 percent and weekly performance of -12.10 percent. The stock has been moved at -21.77 percent over the last six months. The stock has performed -12.33 percent around the most recent 30 days and changed -7.50 percent over the most recent 3-months.

If compared to the average trading volume of 2.35M shares, PGRE reached to a volume of 2499913 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Paramount Group Inc. [PGRE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PGRE shares is $10.16 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PGRE stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Evercore ISI have made an estimate for Paramount Group Inc. shares, keeping their opinion on the stock as In-line, with their previous recommendation back on October 19, 2020. The new note on the price target was released on October 14, 2020, representing the official price target for Paramount Group Inc. stock. Previously, the target price had yet another raise to $9, while Deutsche Bank analysts kept a Hold rating on PGRE stock.

The Average True Range (ATR) for Paramount Group Inc. is set at 0.29, with the Price to Sales ratio for PGRE stock in the period of the last 12 months amounting to 1.99. The Price to Book ratio for the last quarter was 0.39, with the Price to Cash per share for the same quarter was set at 2.30. Price to Free Cash Flow for PGRE in the course of the last twelve months was 8.60.

PGRE stock trade performance evaluation

Paramount Group Inc. [PGRE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.10. With this latest performance, PGRE shares dropped by -12.33% in over the last four-week period, additionally sinking by -21.77% over the last 6 months – not to mention a drop of -48.99% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PGRE stock in for the last two-week period is set at 35.36, with the RSI for the last a single of trading hit 27.72, and the three-weeks RSI is set at 38.67 for Paramount Group Inc. [PGRE]. The present Moving Average for the last 50 days of trading for this stock 7.27, while it was recorded at 6.80 for the last single week of trading, and 9.15 for the last 200 days.

Paramount Group Inc. [PGRE]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Paramount Group Inc. [PGRE] shares currently have an operating margin of +2.89 and a Gross Margin at +32.00. Paramount Group Inc.’s Net Margin is presently recorded at -4.91.

Return on Total Capital for PGRE is now 0.26, given the latest momentum, and Return on Invested Capital for the company is -0.49. Return on Equity for this stock declined to -0.95, with Return on Assets sitting at -0.42. When it comes to the capital structure of this company, Paramount Group Inc. [PGRE] has a Total Debt to Total Equity ratio set at 101.04. Additionally, PGRE Total Debt to Total Capital is recorded at 50.26, with Total Debt to Total Assets ending up at 43.79. Long-Term Debt to Equity for the company is recorded at 101.04, with the Long-Term Debt to Total Capital now at 50.26.

Reflecting on the efficiency of the workforce at the company, Paramount Group Inc. [PGRE] managed to generate an average of -$116,625 per employee. Receivables Turnover for the company is 19.76 with a Total Asset Turnover recorded at a value of 0.09.

Earnings per share (EPS) analysis for Paramount Group Inc. [PGRE] stock

With the latest financial reports released by the company, Paramount Group Inc. posted 0.03/share EPS, while the average EPS was predicted by analysts to be reported at 0.02/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 50.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PGRE.

Paramount Group Inc. [PGRE]: Insider Ownership positions

There are presently around $993 million, or 67.60% of PGRE stock, in the hands of institutional investors. The top three institutional holders of PGRE stocks are: VANGUARD GROUP INC with ownership of 26,677,017, which is approximately -6.279% of the company’s market cap and around 0.10% of the total institutional ownership; NORGES BANK, holding 19,882,031 shares of the stock with an approximate value of $130.03 million in PGRE stocks shares; and BLACKROCK INC., currently with $84.97 million in PGRE stock with ownership of nearly -3.455% of the company’s market capitalization.

Positions in Paramount Group Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 96 institutional holders increased their position in Paramount Group Inc. [NYSE:PGRE] by around 19,227,847 shares. Additionally, 94 investors decreased positions by around 21,810,429 shares, while 15 investors held positions by with 106,470,051 shares. The mentioned changes placed institutional holdings at 147,508,327 shares, according to the latest SEC report filing. PGRE stock had 33 new institutional investments in for a total of 4,240,697 shares, while 29 institutional investors sold positions of 5,416,291 shares during the same period.

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