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Prologis (PLD) Gains But Lags Market: What You Should Know
In the latest trading session, Prologis (PLD - Free Report) closed at $117.06, marking a +0.03% move from the previous day. This move lagged the S&P 500's daily gain of 0.17%. Elsewhere, the Dow gained 0.6%, while the tech-heavy Nasdaq added 0.67%.
Heading into today, shares of the industrial real estate developer had lost 3.58% over the past month, outpacing the Finance sector's loss of 8.6% and lagging the S&P 500's gain of 0.25% in that time.
Wall Street will be looking for positivity from Prologis as it approaches its next earnings report date. This is expected to be April 18, 2023. The company is expected to report EPS of $1.22, up 11.93% from the prior-year quarter. 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 $5.52 per share and revenue of $6.77 billion, which would represent changes of +6.98% and +37.88%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Prologis. These revisions help to show the ever-changing nature of near-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.
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 0.02% lower. Prologis is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Prologis's current valuation metrics, including its Forward P/E ratio of 21.19. This valuation marks a premium compared to its industry's average Forward P/E of 10.62.
Investors should also note that PLD has a PEG ratio of 2.98 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.24 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 96, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.