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Simon Property (SPG) Surpasses Market Returns: Some Facts Worth Knowing
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The most recent trading session ended with Simon Property (SPG - Free Report) standing at $105.44, reflecting a +0.99% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 0.63%. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw an increase of 0.39%.
Coming into today, shares of the shopping mall real estate investment trust had lost 8.91% in the past month. In that same time, the Finance sector lost 3.32%, while the S&P 500 lost 3.39%.
Analysts and investors alike will be keeping a close eye on the performance of Simon Property in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2023. The company's upcoming EPS is projected at $2.98, signifying a 0.34% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.37 billion, indicating a 3.95% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.91 per share and revenue of $5.52 billion. These totals would mark changes of +0.34% and +4.33%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Simon Property. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.02% upward. Simon Property is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Simon Property is presently being traded at a Forward P/E ratio of 8.77. This represents a discount compared to its industry's average Forward P/E of 10.81.
Meanwhile, SPG's PEG ratio is currently 5.16. 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 - Retail industry currently had an average PEG ratio of 3.05 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 72, putting it in the top 29% 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.
To follow SPG in the coming trading sessions, be sure to utilize Zacks.com.
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Simon Property (SPG) Surpasses Market Returns: Some Facts Worth Knowing
The most recent trading session ended with Simon Property (SPG - Free Report) standing at $105.44, reflecting a +0.99% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 0.63%. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw an increase of 0.39%.
Coming into today, shares of the shopping mall real estate investment trust had lost 8.91% in the past month. In that same time, the Finance sector lost 3.32%, while the S&P 500 lost 3.39%.
Analysts and investors alike will be keeping a close eye on the performance of Simon Property in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2023. The company's upcoming EPS is projected at $2.98, signifying a 0.34% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.37 billion, indicating a 3.95% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.91 per share and revenue of $5.52 billion. These totals would mark changes of +0.34% and +4.33%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Simon Property. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.02% upward. Simon Property is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Simon Property is presently being traded at a Forward P/E ratio of 8.77. This represents a discount compared to its industry's average Forward P/E of 10.81.
Meanwhile, SPG's PEG ratio is currently 5.16. 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 - Retail industry currently had an average PEG ratio of 3.05 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 72, putting it in the top 29% 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.
To follow SPG in the coming trading sessions, be sure to utilize Zacks.com.