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Simon Property (SPG) Stock Sinks As Market Gains: What You Should Know
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Simon Property (SPG - Free Report) ended the recent trading session at $141.83, demonstrating a -0.2% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.88%. Meanwhile, the Dow gained 0.54%, and the Nasdaq, a tech-heavy index, added 1.35%.
The shopping mall real estate investment trust's shares have seen a decrease of 1.38% over the last month, surpassing the Finance sector's loss of 4% and falling behind the S&P 500's gain of 0.64%.
The investment community will be paying close attention to the earnings performance of Simon Property in its upcoming release. The company is slated to reveal its earnings on February 5, 2024. The company is predicted to post an EPS of $3.34, indicating a 6.03% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.46 billion, indicating a 4.02% increase compared to the same quarter of the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Simon Property. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.1% higher. Simon Property is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Simon Property is holding a Forward P/E ratio of 11.68. This expresses a discount compared to the average Forward P/E of 13.25 of its industry.
It's also important to note that SPG currently trades at a PEG ratio of 6.83. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the REIT and Equity Trust - Retail industry stood at 3.22 at the close of the market yesterday.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 37, finds itself in the top 15% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Simon Property (SPG) Stock Sinks As Market Gains: What You Should Know
Simon Property (SPG - Free Report) ended the recent trading session at $141.83, demonstrating a -0.2% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.88%. Meanwhile, the Dow gained 0.54%, and the Nasdaq, a tech-heavy index, added 1.35%.
The shopping mall real estate investment trust's shares have seen a decrease of 1.38% over the last month, surpassing the Finance sector's loss of 4% and falling behind the S&P 500's gain of 0.64%.
The investment community will be paying close attention to the earnings performance of Simon Property in its upcoming release. The company is slated to reveal its earnings on February 5, 2024. The company is predicted to post an EPS of $3.34, indicating a 6.03% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.46 billion, indicating a 4.02% increase compared to the same quarter of the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Simon Property. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.1% higher. Simon Property is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Simon Property is holding a Forward P/E ratio of 11.68. This expresses a discount compared to the average Forward P/E of 13.25 of its industry.
It's also important to note that SPG currently trades at a PEG ratio of 6.83. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the REIT and Equity Trust - Retail industry stood at 3.22 at the close of the market yesterday.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 37, finds itself in the top 15% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.