Simon Property (SPG) closed at $63.69 in the latest trading session, marking a -0.45% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.94%. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, lost 2.13%.
Coming into today, shares of the shopping mall real estate investment trust had lost 11.04% in the past month. In that same time, the Finance sector lost 4.19%, while the S&P 500 gained 0.02%.
Investors will be hoping for strength from SPG as it approaches its next earnings release. The company is expected to report EPS of $2.38, down 20.4% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.24 billion, down 11.42% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.55 per share and revenue of $5.21 billion. These totals would mark changes of -12.38% and -9.4%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for SPG. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 1.93% lower within the past month. SPG is holding a Zacks Rank of #5 (Strong Sell) right now.
Valuation is also important, so investors should note that SPG has a Forward P/E ratio of 6.06 right now. This represents a discount compared to its industry's average Forward P/E of 9.82.
Meanwhile, SPG's PEG ratio is currently 1.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. SPG's industry had an average PEG ratio of 5.44 as of yesterday's close.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This group has a Zacks Industry Rank of 212, putting it in the bottom 17% 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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Simon Property Group, Inc. (SPG) : Free Stock Analysis Report
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