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Thursday, October 22, 2020

Simon Property Group Inc. (NYSE:SPG) Recent Earnings Shows Major Concern

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Simon Property Group Inc. (SPG) shares are trading at lower $70.07 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $81.25.

To add more color to this target, the company’s high over the last year is $158.40 and the low is $42.25. Over the last 52 weeks, SPG is down -52.00% while the S&P 500 is up 18.03%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, SPG reported a profit of $450.87 million. Simon Property Group Inc. also saw revenues increase to $1.06 billion. In addition, SPG has free cash flow of $476.85 million as of 06-2020. The company’s EBITDA came in at $788.28 million which compares well with its peers.

SPG booked profit margins of 32.80%, its Return on Equity (ROE) is 75.60%, and its Return on Assets is 5.20%. All told, it is clear that, SPG needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. SPG has a short ratio of 5.34 and outstanding shares of 305.88M.

Company Outlook

SPG has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at 5.69. Investors should also keep an eye on sector updates as SPG has historically followed its peers on positive news.

All told, Simon Property Group Inc. SPG has strung together solid data and demonstrated underlying fundamentals. At its current valuation, SPG represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Simon Property Group Inc. SPG is now commanding a market cap of 20.91B and a float of 304.35M. SPG is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of SPG stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in SPG, either long or short, and we have not been compensated for this article.

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