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Prologis (PLD) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research

Prologis (PLD) closed at $101.03 in the latest trading session, marking a -0.93% move from the prior day. This change lagged the S&P 500's 1.02% gain on the day. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, added 1.73%.

Heading into today, shares of the industrial real estate developer had lost 0.55% over the past month, lagging the Finance sector's gain of 3.95% and the S&P 500's gain of 7.25% in that time.

Investors will be hoping for strength from PLD as it approaches its next earnings release. The company is expected to report EPS of $0.88, down 9.28% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $957.63 million, up 34.79% from the year-ago period.

PLD's full-year Zacks Consensus Estimates are calling for earnings of $3.72 per share and revenue of $3.75 billion. These results would represent year-over-year changes of +12.39% and +32.41%, respectively.

Investors should also note any recent changes to analyst estimates for PLD. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

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. The Zacks Consensus EPS estimate has moved 0.09% higher within the past month. PLD is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, PLD is currently trading at a Forward P/E ratio of 27.41. This represents a premium compared to its industry's average Forward P/E of 15.47.

Also, we should mention that PLD has a PEG ratio of 3.56. 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 industry currently had an average PEG ratio of 4 as of yesterday's close.

The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 220, which puts it in the bottom 14% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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