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Simon Property (SPG) Stock Moves -1.2%: What You Should Know
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In the latest trading session, Simon Property (SPG - Free Report) closed at $103.37, marking a -1.2% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.37%. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 1.87%.
Prior to today's trading, shares of the shopping mall real estate investment trust had lost 8.95% over the past month. This has lagged the Finance sector's loss of 4.93% and the S&P 500's loss of 4.93% in that time.
Investors will be hoping for strength from Simon Property as it approaches its next earnings release, which is expected to be October 30, 2023. The company is expected to report EPS of $2.98, up 0.34% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.37 billion, up 3.95% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.91 per share and revenue of $5.52 billion, which would represent changes of +0.34% and +4.33%, respectively, from the prior year.
Investors might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 has moved 0.02% higher. Simon Property is currently a Zacks Rank #3 (Hold).
Investors should also note Simon Property's current valuation metrics, including its Forward P/E ratio of 8.79. This valuation marks a discount compared to its industry's average Forward P/E of 11.22.
We can also see that SPG currently has a PEG ratio of 5.17. 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 - Retail industry currently had an average PEG ratio of 3.01 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 56, which puts it in the top 23% 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.
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Simon Property (SPG) Stock Moves -1.2%: What You Should Know
In the latest trading session, Simon Property (SPG - Free Report) closed at $103.37, marking a -1.2% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.37%. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 1.87%.
Prior to today's trading, shares of the shopping mall real estate investment trust had lost 8.95% over the past month. This has lagged the Finance sector's loss of 4.93% and the S&P 500's loss of 4.93% in that time.
Investors will be hoping for strength from Simon Property as it approaches its next earnings release, which is expected to be October 30, 2023. The company is expected to report EPS of $2.98, up 0.34% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.37 billion, up 3.95% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.91 per share and revenue of $5.52 billion, which would represent changes of +0.34% and +4.33%, respectively, from the prior year.
Investors might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 has moved 0.02% higher. Simon Property is currently a Zacks Rank #3 (Hold).
Investors should also note Simon Property's current valuation metrics, including its Forward P/E ratio of 8.79. This valuation marks a discount compared to its industry's average Forward P/E of 11.22.
We can also see that SPG currently has a PEG ratio of 5.17. 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 - Retail industry currently had an average PEG ratio of 3.01 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 56, which puts it in the top 23% 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.