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Simon Property (SPG) Stock Sinks As Market Gains: What You Should Know
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Simon Property (SPG - Free Report) closed the most recent trading day at $123.69, moving -0.58% from the previous trading session. This move lagged the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq gained 0.61%.
Heading into today, shares of the shopping mall real estate investment trust had gained 12.01% over the past month, outpacing the Finance sector's gain of 8% and the S&P 500's gain of 4.86% in that time.
Wall Street will be looking for positivity from Simon Property as it approaches its next earnings report date. This is expected to be August 2, 2023. In that report, analysts expect Simon Property to post earnings of $2.91 per share. This would mark a year-over-year decline of 1.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.33 billion, up 3.64% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.91 per share and revenue of $5.43 billion, which would represent changes of +0.34% and +2.62%, respectively, from the prior year.
Any recent changes to analyst estimates for Simon Property should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. Simon Property currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Simon Property has a Forward P/E ratio of 10.44 right now. This valuation marks a discount compared to its industry's average Forward P/E of 13.42.
Meanwhile, SPG's PEG ratio is currently 2.97. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. REIT and Equity Trust - Retail stocks are, on average, holding a PEG ratio of 2.97 based on yesterday's closing prices.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Simon Property (SPG) Stock Sinks As Market Gains: What You Should Know
Simon Property (SPG - Free Report) closed the most recent trading day at $123.69, moving -0.58% from the previous trading session. This move lagged the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq gained 0.61%.
Heading into today, shares of the shopping mall real estate investment trust had gained 12.01% over the past month, outpacing the Finance sector's gain of 8% and the S&P 500's gain of 4.86% in that time.
Wall Street will be looking for positivity from Simon Property as it approaches its next earnings report date. This is expected to be August 2, 2023. In that report, analysts expect Simon Property to post earnings of $2.91 per share. This would mark a year-over-year decline of 1.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.33 billion, up 3.64% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.91 per share and revenue of $5.43 billion, which would represent changes of +0.34% and +2.62%, respectively, from the prior year.
Any recent changes to analyst estimates for Simon Property should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. Simon Property currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Simon Property has a Forward P/E ratio of 10.44 right now. This valuation marks a discount compared to its industry's average Forward P/E of 13.42.
Meanwhile, SPG's PEG ratio is currently 2.97. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. REIT and Equity Trust - Retail stocks are, on average, holding a PEG ratio of 2.97 based on yesterday's closing prices.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.