Yahoo Finance Why Prologis (PLD) Outpaced the Stock Market Today
Prologis (PLD) closed the latest trading day at $132.40, indicating a +1.65% change from the previous session's end. This change outpaced the S&P 500's 0.45% gain on the day. At the same time, the Dow lost 0.23%, and the tech-heavy Nasdaq gained 0.84%.
Shares of the industrial real estate developer have appreciated by 8.55% over the course of the past month, outperforming the Finance sector's gain of 4.51% and the S&P 500's gain of 2.54%.
Analysts and investors alike will be keeping a close eye on the performance of Prologis in its upcoming earnings disclosure. The company is expected to report EPS of $1.38, up 6.15% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.9 billion, up 7.03% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.42 per share and a revenue of $7.52 billion, signifying shifts of -3.39% and +10.34%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Prologis. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.09% lower. Prologis is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Prologis is currently trading at a Forward P/E ratio of 24.03. This indicates a premium in contrast to its industry's Forward P/E of 12.46.
Meanwhile, PLD's PEG ratio is currently 3.35. 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. The average PEG ratio for the REIT and Equity Trust - Other industry stood at 2.38 at the close of the market yesterday.
The REIT and Equity Trust - Other industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 90, placing it within the top 36% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Prologis, Inc. (PLD) : Free Stock Analysis Report
