In the latest trading session, Prologis (PLD) closed at $139.42, marking a -1.12% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.78%. Meanwhile, the Dow experienced a rise of 0.49%, and the technology-dominated Nasdaq saw an increase of 1.29%.
Prior to today's trading, shares of the industrial real estate developer had gained 6.92% outpaced the Finance sector's loss of 3.3% and the S&P 500's loss of 1.33%.
The investment community will be closely monitoring the performance of Prologis in its forthcoming earnings report. The company is forecasted to report an EPS of $1.48, showcasing a 4.23% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $2.11 billion, up 6.41% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.12 per share and revenue of $8.64 billion. These totals would mark changes of +5.34% and +5.94%, respectively, from last year.
Any recent changes to analyst estimates for Prologis should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.11% increase. As of now, Prologis holds a Zacks Rank of #3 (Hold).
In the context of valuation, Prologis is at present trading with a Forward P/E ratio of 23.04. This denotes a premium relative to the industry average Forward P/E of 12.26.
Meanwhile, PLD's PEG ratio is currently 3.49. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The REIT and Equity Trust - Other industry had an average PEG ratio of 2.67 as trading concluded yesterday.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 35% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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
