Analysts on Wall Street project that Simon Property (SPG) will announce quarterly earnings of $3.09 per share in its forthcoming report, representing an increase of 8.8% year over year. Revenues are projected to reach $1.53 billion, increasing 3.5% from the same quarter last year.
The consensus EPS estimate for the quarter has been revised 0.1% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some Simon Property metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts' assessment points toward 'Revenue- Management fees and other revenues' reaching $35.07 million. The estimate indicates a year-over-year change of +4.8%.
Based on the collective assessment of analysts, 'Revenue- Other income' should arrive at $90.34 million. The estimate indicates a year-over-year change of -15.9%.
The collective assessment of analysts points to an estimated 'Revenue- Lease income' of $1.41 billion. The estimate points to a change of +5% from the year-ago quarter.
The consensus estimate for 'U.S. Malls and Premium Outlets - Occupancy - Total Portfolio' stands at 96.2%. Compared to the present estimate, the company reported 96.2% in the same quarter last year.
Analysts forecast 'Depreciation and amortization' to reach $336.87 million.
View all Key Company Metrics for Simon Property here>>>
Shares of Simon Property have experienced a change of -5.8% in the past month compared to the +3.8% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), SPG is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Simon Property Group, Inc. (SPG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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