Analysts on Wall Street project that Simon Property (SPG) will announce quarterly earnings of $3.47 per share in its forthcoming report, representing a decline of 5.7% year over year. Revenues are projected to reach $1.63 billion, increasing 2.8% 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 investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Simon Property metrics that are routinely monitored and predicted by Wall Street analysts.
It is projected by analysts that the 'Revenue- Management fees and other revenues' will reach $38.10 million. The estimate indicates a year-over-year change of +2.6%.
The consensus estimate for 'Revenue- Other income' stands at $96.71 million. The estimate suggests a change of -14.8% year over year.
Analysts' assessment points toward 'Revenue- Lease income' reaching $1.50 billion. The estimate points to a change of +4.7% from the year-ago quarter.
Analysts predict that the 'Depreciation and amortization' will reach $337.73 million.
View all Key Company Metrics for Simon Property here>>>
Simon Property shares have witnessed a change of -1.2% in the past month, in contrast to the Zacks S&P 500 composite's +0.8% move. With a Zacks Rank #2 (Buy), SPG is expected outperform the overall market performance in the near term. 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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