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Prologis (PLD) closed the most recent trading day at $124.04, moving +1.86% from the previous trading session. This change outpaced the S&P 500's 1.12% gain on the day. Meanwhile, the Dow gained 1.14%, and the Nasdaq, a tech-heavy index, added 1.46%.
Prior to today's trading, shares of the industrial real estate developer had gained 2.93% over the past month. This has outpaced the Finance sector's loss of 1.89% and the S&P 500's loss of 4.13% 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, our latest consensus estimate is calling for revenue of $1.95 billion, up 6.9% from the prior-year quarter.
PLD's full-year Zacks Consensus Estimates are calling for earnings of $5.73 per share and revenue of $8.01 billion. These results would represent year-over-year changes of +3.06% and +6.56%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Prologis. 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 company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.17% downward. Currently, Prologis is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Prologis is at present trading with a Forward P/E ratio of 21.26. This represents a premium compared to its industry's average Forward P/E of 11.32.
Also, we should mention that PLD has a PEG ratio of 2.91. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.18 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 133, positioning it in the bottom 48% of all 250+ industries.