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Simon Property (SPG) Dips More Than Broader Markets: What You Should Know
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Simon Property (SPG - Free Report) closed at $120.93 in the latest trading session, marking a -1.08% move from the prior day. This move lagged the S&P 500's daily loss of 0.76%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 10.92%.
Prior to today's trading, shares of the shopping mall real estate investment trust had gained 4.89% over the past month. This has lagged the Finance sector's gain of 5.9% and outpaced the S&P 500's gain of 2.18% in that time.
Investors will be hoping for strength from Simon Property as it approaches its next earnings release, which is expected to be February 6, 2023. In that report, analysts expect Simon Property to post earnings of $3.14 per share. This would mark year-over-year growth of 1.62%. Our most recent consensus estimate is calling for quarterly revenue of $1.37 billion, up 3.05% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Simon Property. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.12% higher within the past month. Simon Property is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Simon Property is holding a Forward P/E ratio of 10.09. Its industry sports an average Forward P/E of 13.36, so we one might conclude that Simon Property is trading at a discount comparatively.
It is also worth noting that SPG currently has a PEG ratio of 2.65. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The REIT and Equity Trust - Retail was holding an average PEG ratio of 2.31 at yesterday's closing price.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 31% 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) Dips More Than Broader Markets: What You Should Know
Simon Property (SPG - Free Report) closed at $120.93 in the latest trading session, marking a -1.08% move from the prior day. This move lagged the S&P 500's daily loss of 0.76%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 10.92%.
Prior to today's trading, shares of the shopping mall real estate investment trust had gained 4.89% over the past month. This has lagged the Finance sector's gain of 5.9% and outpaced the S&P 500's gain of 2.18% in that time.
Investors will be hoping for strength from Simon Property as it approaches its next earnings release, which is expected to be February 6, 2023. In that report, analysts expect Simon Property to post earnings of $3.14 per share. This would mark year-over-year growth of 1.62%. Our most recent consensus estimate is calling for quarterly revenue of $1.37 billion, up 3.05% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Simon Property. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.12% higher within the past month. Simon Property is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Simon Property is holding a Forward P/E ratio of 10.09. Its industry sports an average Forward P/E of 13.36, so we one might conclude that Simon Property is trading at a discount comparatively.
It is also worth noting that SPG currently has a PEG ratio of 2.65. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The REIT and Equity Trust - Retail was holding an average PEG ratio of 2.31 at yesterday's closing price.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 31% 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.