Prologis (PLD) Dips More Than Broader Market: What You Should Know
The most recent trading session ended with Prologis (PLD) standing at $131.32, reflecting a -1.67% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a loss of 0.07% for the day.
Heading into today, shares of the industrial real estate developer had gained 3.33% over the past month, outpacing the Finance sector's gain of 1.65% and lagging the S&P 500's gain of 3.98% in that time.
The upcoming earnings release of Prologis will be of great interest to investors. The company's earnings report is expected on January 17, 2024. It is anticipated that the company will report an EPS of $1.26, marking a 1.61% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.78 billion, indicating a 12.19% increase compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Prologis. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.31% lower within the past month. At present, Prologis boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Prologis is currently trading at a Forward P/E ratio of 24.23. This denotes a premium relative to the industry's average Forward P/E of 11.05.
Also, we should mention that PLD has a PEG ratio of 2.67. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. PLD's industry had an average PEG ratio of 2.59 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 159, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Prologis, Inc. (PLD) : Free Stock Analysis Report
