In the latest trading session, Simon Property (SPG - Free Report) closed at $105.97, marking a +0.72% move from the previous day. This move lagged the S&P 500's daily gain of 0.73%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.93%.
Heading into today, shares of the shopping mall real estate investment trust had lost 6.17% over the past month, lagging the Finance sector's loss of 5.07% and the S&P 500's loss of 2.29% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Simon Property in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2023. On that day, Simon Property is projected to report earnings of $2.98 per share, which would represent year-over-year growth of 0.34%. At the same time, our most recent consensus estimate is projecting a revenue of $1.37 billion, reflecting a 3.95% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.91 per share and a revenue of $5.52 billion, representing changes of +0.34% and +4.33%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Simon Property. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Simon Property is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Simon Property is currently being traded at a Forward P/E ratio of 8.84. This valuation marks a discount compared to its industry's average Forward P/E of 10.98.
We can additionally observe that SPG currently boasts a PEG ratio of 5.17. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the REIT and Equity Trust - Retail industry held an average PEG ratio of 2.41.
The REIT and Equity Trust - Retail industry is part of the Finance sector. With its current Zacks Industry Rank of 76, this industry ranks in the top 31% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
In the latest trading session, Simon Property (SPG - Free Report) closed at $105.97, marking a +0.72% move from the previous day. This move lagged the S&P 500's daily gain of 0.73%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.93%.
Heading into today, shares of the shopping mall real estate investment trust had lost 6.17% over the past month, lagging the Finance sector's loss of 5.07% and the S&P 500's loss of 2.29% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Simon Property in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2023. On that day, Simon Property is projected to report earnings of $2.98 per share, which would represent year-over-year growth of 0.34%. At the same time, our most recent consensus estimate is projecting a revenue of $1.37 billion, reflecting a 3.95% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.91 per share and a revenue of $5.52 billion, representing changes of +0.34% and +4.33%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Simon Property. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Simon Property is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Simon Property is currently being traded at a Forward P/E ratio of 8.84. This valuation marks a discount compared to its industry's average Forward P/E of 10.98.
We can additionally observe that SPG currently boasts a PEG ratio of 5.17. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the REIT and Equity Trust - Retail industry held an average PEG ratio of 2.41.
The REIT and Equity Trust - Retail industry is part of the Finance sector. With its current Zacks Industry Rank of 76, this industry ranks in the top 31% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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