In the latest close session, Prologis (PLD) was down 2.18% at $111.30. The stock's performance was behind the S&P 500's daily loss of 0.69%. At the same time, the Dow lost 0.55%, and the tech-heavy Nasdaq lost 0.82%.
The industrial real estate developer's stock has climbed by 8.15% in the past month, exceeding the Finance sector's gain of 4.76% and the S&P 500's gain of 3.79%.
Market participants will be closely following the financial results of Prologis in its upcoming release. The company is forecasted to report an EPS of $1.43, showcasing no movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.09 billion, indicating a 9.97% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.75 per share and a revenue of $8.32 billion, indicating changes of +3.42% and +10.76%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Prologis. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.05% downward. Prologis is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Prologis's current valuation metrics, including its Forward P/E ratio of 19.77. For comparison, its industry has an average Forward P/E of 11.73, which means Prologis is trading at a premium to the group.
One should further note that PLD currently holds a PEG ratio of 2.86. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. REIT and Equity Trust - Other stocks are, on average, holding a PEG ratio of 2.59 based on yesterday's closing prices.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 98, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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
