We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Simon Property (SPG) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, Simon Property (SPG - Free Report) closed at $111.30, marking a -0.04% move from the previous day. This move lagged the S&P 500's daily gain of 0.09%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 2.51%.
Heading into today, shares of the shopping mall real estate investment trust had gained 3.95% over the past month, lagging the Finance sector's gain of 6.72% and the S&P 500's gain of 6.17% in that time.
Investors will be hoping for strength from Simon Property as it approaches its next earnings release, which is expected to be May 2, 2023. The company is expected to report EPS of $2.79, up 0.36% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.34 billion, up 3.12% from the prior-year quarter.
SPG's full-year Zacks Consensus Estimates are calling for earnings of $12.05 per share and revenue of $5.49 billion. These results would represent year-over-year changes of +1.52% and +3.76%, respectively.
It is also important to note the recent changes to analyst estimates for Simon Property. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Simon Property is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Simon Property is holding a Forward P/E ratio of 9.24. For comparison, its industry has an average Forward P/E of 12.22, which means Simon Property is trading at a discount to the group.
Investors should also note that SPG has a PEG ratio of 2.7 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. SPG's industry had an average PEG ratio of 2.59 as of yesterday's close.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 58, which puts it in the top 24% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Simon Property (SPG) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Simon Property (SPG - Free Report) closed at $111.30, marking a -0.04% move from the previous day. This move lagged the S&P 500's daily gain of 0.09%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 2.51%.
Heading into today, shares of the shopping mall real estate investment trust had gained 3.95% over the past month, lagging the Finance sector's gain of 6.72% and the S&P 500's gain of 6.17% in that time.
Investors will be hoping for strength from Simon Property as it approaches its next earnings release, which is expected to be May 2, 2023. The company is expected to report EPS of $2.79, up 0.36% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.34 billion, up 3.12% from the prior-year quarter.
SPG's full-year Zacks Consensus Estimates are calling for earnings of $12.05 per share and revenue of $5.49 billion. These results would represent year-over-year changes of +1.52% and +3.76%, respectively.
It is also important to note the recent changes to analyst estimates for Simon Property. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Simon Property is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Simon Property is holding a Forward P/E ratio of 9.24. For comparison, its industry has an average Forward P/E of 12.22, which means Simon Property is trading at a discount to the group.
Investors should also note that SPG has a PEG ratio of 2.7 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. SPG's industry had an average PEG ratio of 2.59 as of yesterday's close.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 58, which puts it in the top 24% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.