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Prologis (PLD) Gains As Market Dips: What You Should Know
In the latest trading session, Prologis (PLD - Free Report) closed at $118.37, marking a +1.19% move from the previous day. This change outpaced the S&P 500's 0.15% loss on the day. Meanwhile, the Dow lost 0.28%, and the Nasdaq, a tech-heavy index, added 3.16%.
Coming into today, shares of the industrial real estate developer had lost 8.67% in the past month. In that same time, the Finance sector lost 8.03%, while the S&P 500 lost 5.39%.
Wall Street will be looking for positivity from Prologis as it approaches its next earnings report date. In that report, analysts expect Prologis to post earnings of $1.22 per share. This would mark year-over-year growth of 11.93%. Meanwhile, our latest consensus estimate is calling for revenue of $1.63 billion, up 51.34% from the prior-year quarter.
PLD's full-year Zacks Consensus Estimates are calling for earnings of $5.52 per share and revenue of $6.77 billion. These results would represent year-over-year changes of +6.98% and +37.88%, respectively.
Investors should also note any recent changes to analyst estimates for Prologis. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.02% 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 21.18. This represents a premium compared to its industry's average Forward P/E of 10.87.
It is also worth noting that PLD currently has a PEG ratio of 2.98. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.05 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.