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Prologis (PLD) Gains As Market Dips: What You Should Know
Prologis (PLD - Free Report) closed the most recent trading day at $123.40, moving +0.4% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, added 0.84%.
Heading into today, shares of the industrial real estate developer had lost 3.82% over the past month, lagging the Finance sector's loss of 2.03% and the S&P 500's loss of 2% in that time.
Investors will be hoping for strength from Prologis as it approaches its next earnings release. In that report, analysts expect Prologis to post earnings of $1.22 per share. This would mark 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.53 per share and revenue of $6.77 billion. These totals would mark changes of +7.17% and +37.88%, respectively, from last year.
Any recent changes to analyst estimates for Prologis should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.01% higher. Prologis is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Prologis has a Forward P/E ratio of 22.25 right now. Its industry sports an average Forward P/E of 12.05, so we one might conclude that Prologis is trading at a premium comparatively.
Also, we should mention that PLD has a PEG ratio of 3.1. 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 - Other was holding an average PEG ratio of 2.23 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 198, putting it in the bottom 22% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.