Prologis (PLD) Outperforms Broader Market: What You Need to Know
Prologis (PLD) closed at $130.56 in the latest trading session, marking a +0.21% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.18%. Meanwhile, the Dow experienced a rise of 0.07%, and the technology-dominated Nasdaq saw an increase of 0.1%.
Prior to today's trading, shares of the industrial real estate developer had gained 9.53% over the past month. This has outpaced the Finance sector's gain of 4.37% and the S&P 500's gain of 2.75% 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. The company's upcoming EPS is projected at $1.26, signifying a 1.61% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.78 billion, up 12.19% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Prologis. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.31% fall in the Zacks Consensus EPS estimate. At present, Prologis boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Prologis is presently being traded at a Forward P/E ratio of 23.64. This expresses a premium compared to the average Forward P/E of 11.17 of its industry.
We can also see that PLD currently has a PEG ratio of 2.7. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the REIT and Equity Trust - Other industry was having an average PEG ratio of 2.37.
The REIT and Equity Trust - Other industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 173, placing it within the bottom 32% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Prologis, Inc. (PLD) : Free Stock Analysis Report
