Prologis (PLD) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Prologis (PLD) closed the latest trading day at $133.30, indicating a -1.4% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.28%. On the other hand, the Dow registered a loss of 0.06%, and the technology-centric Nasdaq decreased by 0.56%.
Prior to today's trading, shares of the industrial real estate developer had gained 17.63% over the past month. This has outpaced the Finance sector's gain of 8.34% and the S&P 500's gain of 5.24% 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 is forecasted to report an EPS of $1.26, showcasing a 1.61% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.78 billion, indicating a 12.19% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.60 per share and a revenue of $6.85 billion, indicating changes of +8.53% and +39.37%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Prologis. 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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 no change in the Zacks Consensus EPS estimate. Prologis is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Prologis has a Forward P/E ratio of 24.14 right now. This valuation marks a premium compared to its industry's average Forward P/E of 11.64.
Meanwhile, PLD's PEG ratio is currently 2.76. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The REIT and Equity Trust - Other industry had an average PEG ratio of 2.46 as trading concluded yesterday.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 142, finds itself in the bottom 44% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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Prologis, Inc. (PLD) : Free Stock Analysis Report
