Simon Property (SPG) Stock Moves -1.97%: What You Should Know
Simon Property (SPG) closed at $60.76 in the latest trading session, marking a -1.97% move from the prior day. This change was narrower than the S&P 500's daily loss of 3.53%. At the same time, the Dow lost 3.44%, and the tech-heavy Nasdaq lost 3.73%.
Coming into today, shares of the shopping mall real estate investment trust had lost 3.14% in the past month. In that same time, the Finance sector gained 3.87%, while the S&P 500 gained 2.89%.
SPG will be looking to display strength as it nears its next earnings release, which is expected to be November 9, 2020. In that report, analysts expect SPG to post earnings of $2.25 per share. This would mark a year-over-year decline of 26.23%. Our most recent consensus estimate is calling for quarterly revenue of $1.12 billion, down 20.92% from the year-ago period.
SPG's full-year Zacks Consensus Estimates are calling for earnings of $9.59 per share and revenue of $4.70 billion. These results would represent year-over-year changes of -20.35% and -18.39%, respectively.
It is also important to note the recent changes to analyst estimates for SPG. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.46% lower. SPG currently has a Zacks Rank of #4 (Sell).
Digging into valuation, SPG currently has a Forward P/E ratio of 6.47. This valuation marks a discount compared to its industry's average Forward P/E of 9.08.
It is also worth noting that SPG currently has a PEG ratio of 1.29. 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. REIT and Equity Trust - Retail stocks are, on average, holding a PEG ratio of 5.27 based on yesterday's closing prices.
The REIT and Equity Trust - Retail industry is part of the Finance sector. This group has a Zacks Industry Rank of 248, putting it in the bottom 2% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Simon Property Group, Inc. (SPG): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.