Simon Property (SPG) Stock Moves -0.87%: What You Should Know
Simon Property (SPG) closed the most recent trading day at $99.25, moving -0.87% from the previous trading session. This change was narrower than the S&P 500's 2.01% loss on the day. Meanwhile, the Dow lost 1.56%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Prior to today's trading, shares of the shopping mall real estate investment trust had lost 11.97% over the past month. This has lagged the Finance sector's loss of 8.01% and the S&P 500's loss of 6.08% in that time.
Investors will be hoping for strength from Simon Property as it approaches its next earnings release. The company is expected to report EPS of $2.89, down 1.03% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.3 billion, up 3.39% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.73 per share and revenue of $5.26 billion. These totals would mark changes of -1.76% and +2.71%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Simon Property. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Within the past 30 days, our consensus EPS projection has moved 0.07% lower. Simon Property is currently a Zacks Rank #3 (Hold).
In terms of valuation, Simon Property is currently trading at a Forward P/E ratio of 8.53. This represents a discount compared to its industry's average Forward P/E of 13.28.
We can also see that SPG currently has a PEG ratio of 2.34. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The REIT and Equity Trust - Retail industry currently had an average PEG ratio of 1.97 as of yesterday's close.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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