We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why Simon Property (SPG) Dipped More Than Broader Market Today
Read MoreHide Full Article
The latest trading session saw Simon Property (SPG - Free Report) ending at $141.96, denoting a -0.61% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 0.07% for the day. On the other hand, the Dow registered a gain of 0.16%, and the technology-centric Nasdaq decreased by 0.36%.
Prior to today's trading, shares of the shopping mall real estate investment trust had lost 1.01% over the past month. This has was narrower than the Finance sector's loss of 1.77% and lagged the S&P 500's gain of 3.05% in that time.
The investment community will be closely monitoring the performance of Simon Property in its forthcoming earnings report. The company is scheduled to release its earnings on February 5, 2024. The company is forecasted to report an EPS of $3.34, showcasing a 6.03% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1.46 billion, up 4.02% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Simon Property. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.17% increase. Simon Property currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Simon Property currently has a Forward P/E ratio of 11.74. Its industry sports an average Forward P/E of 13.22, so one might conclude that Simon Property is trading at a discount comparatively.
Meanwhile, SPG's PEG ratio is currently 6.86. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the REIT and Equity Trust - Retail industry had an average PEG ratio of 3.5.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 56, finds itself in the top 23% echelons of all 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why Simon Property (SPG) Dipped More Than Broader Market Today
The latest trading session saw Simon Property (SPG - Free Report) ending at $141.96, denoting a -0.61% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 0.07% for the day. On the other hand, the Dow registered a gain of 0.16%, and the technology-centric Nasdaq decreased by 0.36%.
Prior to today's trading, shares of the shopping mall real estate investment trust had lost 1.01% over the past month. This has was narrower than the Finance sector's loss of 1.77% and lagged the S&P 500's gain of 3.05% in that time.
The investment community will be closely monitoring the performance of Simon Property in its forthcoming earnings report. The company is scheduled to release its earnings on February 5, 2024. The company is forecasted to report an EPS of $3.34, showcasing a 6.03% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1.46 billion, up 4.02% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Simon Property. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.17% increase. Simon Property currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Simon Property currently has a Forward P/E ratio of 11.74. Its industry sports an average Forward P/E of 13.22, so one might conclude that Simon Property is trading at a discount comparatively.
Meanwhile, SPG's PEG ratio is currently 6.86. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the REIT and Equity Trust - Retail industry had an average PEG ratio of 3.5.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 56, finds itself in the top 23% echelons of all 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.