Simon Property Group, Inc. (NYSE:SPG) is projected to declare fiscal fourth quarter financial results right before the stock market’s official open on January 31, 2017. The stock lost about -4.9 percent in price since last results when it was at $195.53 a share. Based on the most relevant past-periods data, there is an 50 percent probability for this firm’s share price to go down following next quarterly results. Earnings reaction history tells us that the equity price moved down 14 times out of last 28 reported quarters. It has beaten earnings-per-share estimates 83% of the time in its last 12 earnings reports. It fell short of earnings estimates on 1 occasions, and it has met expectations 1 time.
Here’s how traders responded to SPG earnings announcements over the past few quarters.
Simon Property Group, Inc. (SPG) Earnings Surprises & Reaction
Given its history, the average earnings announcement surprise was 4.14 percent over the past four quarters. Back on October 26, 2016, it posted earnings per-share earnings at $2.7 which beat the consensus $2.68 projection (positive surprise of0.75%. For the quarter, revenue came in at 1.36B versus consensus estimate of 1.35B. The stock dropped -4.51 percent the session following the earnings reports were released, and on 7th day price change was -7.1 percent.
On July 27, 2016, it reported earnings at $2.63 a share compared with the consensus estimate of $2.62 per share (positive surprise of 0.38%). Revenue of 1.32B for that quarter was below the $1.33B analysts had expected. The stock retreated -1.25% the day following the earnings announcement, and on 7th day price change was -0.4%.
On April 26, 2016, it recorded $2.63 a share in earnings which topped the consensus estimate of $2.54 (positive surprise of 3.54%). Revenue for the quarter was $1.34B while analysts called for revenues to be $1.3B. The stock gained 0.14% the day following the earnings data was made public, and on 7th day price change was 0.42%.
On January 29, 2016, it announced earnings per share at $2.73 versus the consensus estimate of $2.44 per share (positive surprise of 11.89%). That came on revenues of $1.38B for that period. Analysts had expected $1.4B in revenue.
Simon Property Group, Inc. Earnings Estimates
As Q4 earnings announcement date approaches, Wall Street is expecting earnings per share of $2.81. The analysts’ present consensus range is $2.75-$2.91 for EPS. The market consensus range for revenue is between $1.39B and $1.43B, with an average of $1.41B.
Simon Property Group, Inc. (NYSE:SPG) last ended at $184.19, sending the company’s market cap near $66.63B. The consensus 12-month price target from analysts covering the stock is $216.5. The share price has declined -18.24% from its top level in 52 weeks and dropped 3.67% this year. It recently traded in a range of $183.65-$185.9 at a volume of 2666132 shares. The recent trading ended with the price nearly 0.86 higher for the last 5 trading days, rebounding 8.16% from its 52-week low.