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Prologis (PLD) Dips More Than Broader Markets: What You Should Know
Prologis (PLD - Free Report) closed the most recent trading day at $122.90, moving -0.47% from the previous trading session. This change lagged the S&P 500's 0.16% loss on the day. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 1.58%.
Prior to today's trading, shares of the industrial real estate developer had lost 2.31% over the past month. This has lagged the Finance sector's gain of 0.34% and the S&P 500's gain of 0.84% in that time.
Wall Street will be looking for positivity from Prologis as it approaches its next earnings report date. On that day, Prologis is projected to report earnings of $1.22 per share, which would represent year-over-year growth of 11.93%. Our most recent consensus estimate is calling for quarterly revenue of $1.63 billion, up 51.34% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.53 per share and revenue of $6.77 billion, which would represent changes of +7.17% and +37.88%, respectively, from the prior year.
Any recent changes to analyst estimates for Prologis should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.15% lower within the past month. Prologis is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Prologis currently has a Forward P/E ratio of 22.35. This valuation marks a premium compared to its industry's average Forward P/E of 11.95.
We can also see that PLD currently has a PEG ratio of 3.12. 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. PLD's industry had an average PEG ratio of 2.09 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 197, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.