Prologis (PLD) closed at $116.39 in the latest trading session, marking a +0.74% move from the prior day. The stock outpaced the S&P 500’s daily loss of 0.03%. Meanwhile, the Dow gained 0.45%, and the Nasdaq, a tech-heavy index, lost 0.05%.
Prior to today’s trading, shares of the industrial real estate developer had gained 4.07% over the past month. This has lagged the Finance sector’s gain of 8.94% and the S&P 500’s gain of 6.23% in that time.
Wall Street will be looking for positivity from Prologis as it approaches its next earnings report date. On that day, Prologis is projected to report earnings of $1.21 per share, which would represent year-over-year growth of 8.04%. Meanwhile, our latest consensus estimate is calling for revenue of $1.35 billion, up 25.92% from the prior-year quarter.
PLD’s full-year Zacks Consensus Estimates are calling for earnings of $5.12 per share and revenue of $4.7 billion. These results would represent year-over-year changes of +23.37% and +13.34%, respectively.
Investors should also note any recent changes to analyst estimates for Prologis. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Prologis is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Prologis is holding a Forward P/E ratio of 22.56. For comparison, its industry has an average Forward P/E of 12.09, which means Prologis is trading at a premium to the group.
We can also see that PLD currently has a PEG ratio of 2.61. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. The REIT and Equity Trust – Other industry currently had an average PEG ratio of 1.97 as of yesterday’s close.
The REIT and Equity Trust – Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PLD in the coming trading sessions, be sure to utilize Zacks.com.
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