Prologis (PLD) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Prologis (PLD) closed at $120.21, marking a -1.94% move from the previous day. This change lagged the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq lost 0.11%.
Coming into today, shares of the industrial real estate developer had lost 3.67% in the past month. In that same time, the Finance sector lost 3.72%, while the S&P 500 lost 0.62%.
Prologis will be looking to display strength as it nears its next earnings release. On that day, Prologis is projected to report earnings of $1.12 per share, which would represent year-over-year growth of 10.89%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.1 billion, up 8.84% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.15 per share and revenue of $4.52 billion. These totals would mark changes of +24.1% and +9%, respectively, from last year.
Any recent changes to analyst estimates for Prologis should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Prologis is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Prologis is holding a Forward P/E ratio of 23.8. This valuation marks a premium compared to its industry's average Forward P/E of 12.92.
Also, we should mention that PLD has a PEG ratio of 2.43. 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 - Other was holding an average PEG ratio of 2.43 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 43% 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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