Prologis (PLD) Stock Sinks As Market Gains: What You Should Know
The latest trading session saw Prologis (PLD) ending at $128.14, denoting a -0.68% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.63%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq gained 0.82%.
Heading into today, shares of the industrial real estate developer had lost 3.28% over the past month, lagging the Finance sector's gain of 2.48% and the S&P 500's gain of 1.76% in that time.
Investors will be eagerly watching for the performance of Prologis in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.29, indicating a 5.74% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.81 billion, up 10.9% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.50 per share and a revenue of $7.5 billion, representing changes of -1.96% and +10.01%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Prologis. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 a 0.06% fall in the Zacks Consensus EPS estimate. Prologis is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Prologis is holding a Forward P/E ratio of 23.47. Its industry sports an average Forward P/E of 11.11, so one might conclude that Prologis is trading at a premium comparatively.
Meanwhile, PLD's PEG ratio is currently 2.58. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.35 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 140, placing it within the bottom 45% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Prologis, Inc. (PLD) : Free Stock Analysis Report
