In the latest trading session, Prologis (PLD) closed at $112.68, marking a +1.19% move from the previous day. This change outpaced the S&P 500's 0.24% gain on the day. At the same time, the Dow added 0.32%, and the tech-heavy Nasdaq gained 0.21%.
Shares of the industrial real estate developer witnessed a gain of 1.49% over the previous month, beating the performance of the Finance sector with its gain of 1.04%, and the S&P 500's gain of 1.28%.
The investment community will be paying close attention to the earnings performance of Prologis in its upcoming release. The company is predicted to post an EPS of $1.43, indicating constancy compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $2.09 billion, up 9.97% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.75 per share and a revenue of $8.32 billion, signifying shifts of +3.42% and +10.76%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Prologis. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.01% fall in the Zacks Consensus EPS estimate. Prologis is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Prologis currently has a Forward P/E ratio of 19.35. This denotes a premium relative to the industry average Forward P/E of 11.66.
Investors should also note that PLD has a PEG ratio of 2.8 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.49 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 104, placing it within the top 43% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Prologis, Inc. (PLD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
