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Prologis (PLD) closed the latest trading day at $122.77, indicating a +0.5% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 1.59% for the day. On the other hand, the Dow registered a loss of 0.45%, and the technology-centric Nasdaq decreased by 2.78%.
Prior to today's trading, shares of the industrial real estate developer had gained 2.51% over the past month. This has outpaced the Finance sector's loss of 0.09% and the S&P 500's loss of 2.23% in that time.
The upcoming earnings release of Prologis will be of great interest to investors. In that report, analysts expect Prologis to post earnings of $1.38 per share. This would mark year-over-year growth of 7.81%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.95 billion, indicating a 6.9% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.73 per share and a revenue of $8.01 billion, signifying shifts of +3.06% and +6.56%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Prologis. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.21% lower. As of now, Prologis holds a Zacks Rank of #3 (Hold).
Digging into valuation, Prologis currently has a Forward P/E ratio of 21.33. This indicates a premium in contrast to its industry's Forward P/E of 11.22.
Meanwhile, PLD's PEG ratio is currently 2.92. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the REIT and Equity Trust - Other industry held an average PEG ratio of 2.14.
The REIT and Equity Trust - Other industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 135, positioning it in the bottom 47% of all 250+ industries.