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Simon Property (SPG) Stock Slides as Market Rises: Facts to Know Before You Trade
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Simon Property (SPG - Free Report) ended the recent trading session at $141.49, demonstrating a -0.78% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 0.36%.
Coming into today, shares of the shopping mall real estate investment trust had lost 0.74% in the past month. In that same time, the Finance sector lost 2.71%, while the S&P 500 gained 2.4%.
Analysts and investors alike will be keeping a close eye on the performance of Simon Property in its upcoming earnings disclosure. The company's earnings report is set to go public on February 5, 2024. On that day, Simon Property is projected to report earnings of $3.34 per share, which would represent year-over-year growth of 6.03%. In the meantime, our current consensus estimate forecasts the revenue to be $1.46 billion, indicating a 4.02% growth compared to the corresponding quarter of the prior year.
Investors should also note any recent changes to analyst estimates for Simon Property. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.17% rise in the Zacks Consensus EPS estimate. Simon Property is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Simon Property is presently being traded at a Forward P/E ratio of 11.72. This represents a discount compared to its industry's average Forward P/E of 13.35.
It's also important to note that SPG currently trades at a PEG ratio of 6.85. 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. As the market closed yesterday, the REIT and Equity Trust - Retail industry was having an average PEG ratio of 3.47.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Simon Property (SPG) Stock Slides as Market Rises: Facts to Know Before You Trade
Simon Property (SPG - Free Report) ended the recent trading session at $141.49, demonstrating a -0.78% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 0.36%.
Coming into today, shares of the shopping mall real estate investment trust had lost 0.74% in the past month. In that same time, the Finance sector lost 2.71%, while the S&P 500 gained 2.4%.
Analysts and investors alike will be keeping a close eye on the performance of Simon Property in its upcoming earnings disclosure. The company's earnings report is set to go public on February 5, 2024. On that day, Simon Property is projected to report earnings of $3.34 per share, which would represent year-over-year growth of 6.03%. In the meantime, our current consensus estimate forecasts the revenue to be $1.46 billion, indicating a 4.02% growth compared to the corresponding quarter of the prior year.
Investors should also note any recent changes to analyst estimates for Simon Property. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.17% rise in the Zacks Consensus EPS estimate. Simon Property is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Simon Property is presently being traded at a Forward P/E ratio of 11.72. This represents a discount compared to its industry's average Forward P/E of 13.35.
It's also important to note that SPG currently trades at a PEG ratio of 6.85. 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. As the market closed yesterday, the REIT and Equity Trust - Retail industry was having an average PEG ratio of 3.47.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.