Tanger Factory Outlet (SKT - Free Report) closed at $14.90 in the latest trading session, marking a +0.54% move from the prior day. This change outpaced the S&P 500's 0.49% gain on the day. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, added 0.43%.
Heading into today, shares of the factory outlet mall operator had lost 2.24% over the past month, lagging the Finance sector's gain of 2.57% and the S&P 500's gain of 2.9% in that time.
Investors will be hoping for strength from SKT as it approaches its next earnings release. On that day, SKT is projected to report earnings of $0.56 per share, which would represent a year-over-year decline of 12.5%. Our most recent consensus estimate is calling for quarterly revenue of $114.54 million, down 7.65% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.23 per share and revenue of $466.10 million, which would represent changes of -10.08% and -3.57%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for SKT. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SKT is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, SKT is holding a Forward P/E ratio of 6.65. Its industry sports an average Forward P/E of 14.88, so we one might conclude that SKT is trading at a discount comparatively.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 37% 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.
To follow SKT in the coming trading sessions, be sure to utilize Zacks.com.