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Why Simon Property (SPG) Dipped More Than Broader Market Today
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In the latest trading session, Simon Property (SPG - Free Report) closed at $108.55, marking a -1.45% move from the previous day. This move lagged the S&P 500's daily loss of 1.34%. Meanwhile, the Dow lost 0.98%, and the Nasdaq, a tech-heavy index, lost 1.62%.
Prior to today's trading, shares of the shopping mall real estate investment trust had lost 3.6% over the past month. This has lagged the Finance sector's loss of 3.36% and the S&P 500's loss of 1.57% in that time.
Market participants will be closely following the financial results of Simon Property in its upcoming release. The company plans to announce its earnings on October 30, 2023. The company is expected to report EPS of $2.98, up 0.34% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $1.37 billion, indicating a 3.95% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.91 per share and revenue of $5.52 billion. These totals would mark changes of +0.34% and +4.33%, respectively, from last 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 a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.01% fall in the Zacks Consensus EPS estimate. As of now, Simon Property holds a Zacks Rank of #3 (Hold).
Looking at valuation, Simon Property is presently trading at a Forward P/E ratio of 9.25. Its industry sports an average Forward P/E of 11.46, so one might conclude that Simon Property is trading at a discount comparatively.
We can additionally observe that SPG currently boasts a PEG ratio of 5.41. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the REIT and Equity Trust - Retail industry stood at 2.52 at the close of the market yesterday.
The REIT and Equity Trust - Retail industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 75, placing it within the top 30% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Why Simon Property (SPG) Dipped More Than Broader Market Today
In the latest trading session, Simon Property (SPG - Free Report) closed at $108.55, marking a -1.45% move from the previous day. This move lagged the S&P 500's daily loss of 1.34%. Meanwhile, the Dow lost 0.98%, and the Nasdaq, a tech-heavy index, lost 1.62%.
Prior to today's trading, shares of the shopping mall real estate investment trust had lost 3.6% over the past month. This has lagged the Finance sector's loss of 3.36% and the S&P 500's loss of 1.57% in that time.
Market participants will be closely following the financial results of Simon Property in its upcoming release. The company plans to announce its earnings on October 30, 2023. The company is expected to report EPS of $2.98, up 0.34% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $1.37 billion, indicating a 3.95% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.91 per share and revenue of $5.52 billion. These totals would mark changes of +0.34% and +4.33%, respectively, from last 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 a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.01% fall in the Zacks Consensus EPS estimate. As of now, Simon Property holds a Zacks Rank of #3 (Hold).
Looking at valuation, Simon Property is presently trading at a Forward P/E ratio of 9.25. Its industry sports an average Forward P/E of 11.46, so one might conclude that Simon Property is trading at a discount comparatively.
We can additionally observe that SPG currently boasts a PEG ratio of 5.41. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the REIT and Equity Trust - Retail industry stood at 2.52 at the close of the market yesterday.
The REIT and Equity Trust - Retail industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 75, placing it within the top 30% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.