Simon Property (SPG) Stock Moves -0.39%: What You Should Know
In the latest trading session, Simon Property (SPG) closed at $87.32, marking a -0.39% move from the previous day. This change was narrower than the S&P 500's 0.44% loss on the day. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq added 0.5%.
Prior to today's trading, shares of the shopping mall real estate investment trust had gained 10.59% over the past month. This has outpaced the Finance sector's gain of 3.36% and the S&P 500's gain of 1.39% in that time.
Investors will be hoping for strength from SPG as it approaches its next earnings release. The company is expected to report EPS of $2.27, down 23.31% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.17 billion, down 21.58% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.28 per share and revenue of $4.66 billion, which would represent changes of -22.92% and -19.03%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for SPG. Recent revisions tend to reflect the latest near-term business trends. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.43% lower. SPG is currently a Zacks Rank #5 (Strong Sell).
Digging into valuation, SPG currently has a Forward P/E ratio of 9.41. For comparison, its industry has an average Forward P/E of 13.13, which means SPG is trading at a discount to the group.
It is also worth noting that SPG currently has a PEG ratio of 1.88. 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. SPG's industry had an average PEG ratio of 3.74 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 246, which puts it in the bottom 4% 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.
To follow SPG in the coming trading sessions, be sure to utilize Zacks.com.
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Simon Property Group, Inc. (SPG) : Free Stock Analysis Report
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