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Simon Property (SPG) Stock Moves -0.93%: What You Should Know
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The most recent trading session ended with Simon Property (SPG - Free Report) standing at $104.98, reflecting a -0.93% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 1.43% for the day. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 2.43%.
Shares of the shopping mall real estate investment trust have depreciated by 2.91% over the course of the past month, outperforming the Finance sector's loss of 4.6% and lagging the S&P 500's loss of 1.55%.
Market participants will be closely following the financial results of Simon Property in its upcoming release. The company plans to announce its earnings on October 30, 2023. It is anticipated that the company will report an EPS of $2.98, marking a 0.34% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.37 billion, indicating a 3.95% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $11.91 per share and a revenue of $5.52 billion, signifying shifts of +0.34% and +4.33%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Simon Property. 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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Simon Property possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Simon Property is at present trading with a Forward P/E ratio of 8.9. This signifies a discount in comparison to the average Forward P/E of 11 for its industry.
It is also worth noting that SPG currently has a PEG ratio of 5.2. 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. REIT and Equity Trust - Retail stocks are, on average, holding a PEG ratio of 2.45 based on yesterday's closing prices.
The REIT and Equity Trust - Retail industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 92, placing it within the top 37% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Simon Property (SPG) Stock Moves -0.93%: What You Should Know
The most recent trading session ended with Simon Property (SPG - Free Report) standing at $104.98, reflecting a -0.93% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 1.43% for the day. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 2.43%.
Shares of the shopping mall real estate investment trust have depreciated by 2.91% over the course of the past month, outperforming the Finance sector's loss of 4.6% and lagging the S&P 500's loss of 1.55%.
Market participants will be closely following the financial results of Simon Property in its upcoming release. The company plans to announce its earnings on October 30, 2023. It is anticipated that the company will report an EPS of $2.98, marking a 0.34% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.37 billion, indicating a 3.95% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $11.91 per share and a revenue of $5.52 billion, signifying shifts of +0.34% and +4.33%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Simon Property. 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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Simon Property possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Simon Property is at present trading with a Forward P/E ratio of 8.9. This signifies a discount in comparison to the average Forward P/E of 11 for its industry.
It is also worth noting that SPG currently has a PEG ratio of 5.2. 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. REIT and Equity Trust - Retail stocks are, on average, holding a PEG ratio of 2.45 based on yesterday's closing prices.
The REIT and Equity Trust - Retail industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 92, placing it within the top 37% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.