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Simon Property (SPG) Beats Stock Market Upswing: What Investors Need to Know
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In the latest trading session, Simon Property (SPG - Free Report) closed at $145.16, marking a +1.07% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.66%.
Prior to today's trading, shares of the shopping mall real estate investment trust had gained 17% over the past month. This has outpaced the Finance sector's gain of 7.84% and the S&P 500's gain of 5.16% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Simon Property in its upcoming earnings disclosure. The company's upcoming EPS is projected at $3.34, signifying a 6.03% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.45 billion, reflecting a 3.61% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $12.14 per share and a revenue of $5.6 billion, demonstrating changes of +2.27% and +5.79%, respectively, from the preceding year.
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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.04% lower. Simon Property is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Simon Property is currently being traded at a Forward P/E ratio of 11.83. For comparison, its industry has an average Forward P/E of 14, which means Simon Property is trading at a discount to the group.
It is also worth noting that SPG currently has a PEG ratio of 6.92. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. REIT and Equity Trust - Retail stocks are, on average, holding a PEG ratio of 3.38 based on yesterday's closing prices.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SPG in the coming trading sessions, be sure to utilize Zacks.com.
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Simon Property (SPG) Beats Stock Market Upswing: What Investors Need to Know
In the latest trading session, Simon Property (SPG - Free Report) closed at $145.16, marking a +1.07% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.66%.
Prior to today's trading, shares of the shopping mall real estate investment trust had gained 17% over the past month. This has outpaced the Finance sector's gain of 7.84% and the S&P 500's gain of 5.16% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Simon Property in its upcoming earnings disclosure. The company's upcoming EPS is projected at $3.34, signifying a 6.03% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.45 billion, reflecting a 3.61% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $12.14 per share and a revenue of $5.6 billion, demonstrating changes of +2.27% and +5.79%, respectively, from the preceding year.
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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.04% lower. Simon Property is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Simon Property is currently being traded at a Forward P/E ratio of 11.83. For comparison, its industry has an average Forward P/E of 14, which means Simon Property is trading at a discount to the group.
It is also worth noting that SPG currently has a PEG ratio of 6.92. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. REIT and Equity Trust - Retail stocks are, on average, holding a PEG ratio of 3.38 based on yesterday's closing prices.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SPG in the coming trading sessions, be sure to utilize Zacks.com.