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Prologis (PLD) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Prologis (PLD - Free Report) closed at $120.60, marking a -0.22% move from the previous day. This change lagged the S&P 500's 0.04% loss on the day. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 2.93%.
Prior to today's trading, shares of the industrial real estate developer had lost 2.77% over the past month. This has lagged the Finance sector's gain of 3.77% and the S&P 500's gain of 4.22% 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 July 18, 2023. In that report, analysts expect Prologis to post earnings of $1.68 per share. This would mark year-over-year growth of 51.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.67 billion, up 52.38% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.49 per share and revenue of $6.73 billion. These totals would mark changes of +6.4% and +36.88%, respectively, from last year.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. Prologis is currently a Zacks Rank #3 (Hold).
In terms of valuation, Prologis is currently trading at a Forward P/E ratio of 22.04. For comparison, its industry has an average Forward P/E of 11.58, which means Prologis is trading at a premium to the group.
Also, we should mention that PLD has a PEG ratio of 2.88. 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 2.09 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 165, which puts it in the bottom 35% 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.
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Prologis (PLD) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Prologis (PLD - Free Report) closed at $120.60, marking a -0.22% move from the previous day. This change lagged the S&P 500's 0.04% loss on the day. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 2.93%.
Prior to today's trading, shares of the industrial real estate developer had lost 2.77% over the past month. This has lagged the Finance sector's gain of 3.77% and the S&P 500's gain of 4.22% 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 July 18, 2023. In that report, analysts expect Prologis to post earnings of $1.68 per share. This would mark year-over-year growth of 51.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.67 billion, up 52.38% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.49 per share and revenue of $6.73 billion. These totals would mark changes of +6.4% and +36.88%, respectively, from last year.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. Prologis is currently a Zacks Rank #3 (Hold).
In terms of valuation, Prologis is currently trading at a Forward P/E ratio of 22.04. For comparison, its industry has an average Forward P/E of 11.58, which means Prologis is trading at a premium to the group.
Also, we should mention that PLD has a PEG ratio of 2.88. 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 2.09 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 165, which puts it in the bottom 35% 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.