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Friday, October 23, 2020

Washington Prime Group Inc. (NYSE:WPG) Stock is Plummeting, Here is Why

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Washington Prime Group Inc. (WPG) shares are trading at lower $0.58 and the avg recommendation for the stock is Hold, while the current analyst price target stands at $1.00.

To add more color to this target, the company’s high over the last year is $4.69 and the low is $0.56. Over the last 52 weeks, WPG is down -84.84% while the S&P 500 is up 18.95%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, WPG reported a profit of $-39.82 million. Washington Prime Group Inc. also saw revenues decrease to $98.76 million. In addition, WPG has free cash flow of -$101.89 million as of 06-2020. The company’s EBITDA came in at $16.25 million which compares well with its peers.

WPG booked profit margins of -11.30%, its Return on Equity (ROE) is -11.70%, and its Return on Assets is -1.60%. All told, it is clear that, WPG 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. WPG has a short ratio of 23.30 and outstanding shares of 190.54M.

Company Outlook

WPG has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.15 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.35. Investors should also keep an eye on sector updates as WPG has historically followed its peers on positive news.

All told, Washington Prime Group Inc. WPG has strung together solid data and demonstrated underlying fundamentals. At its current valuation, WPG 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.

Washington Prime Group Inc. WPG is now commanding a market cap of 109.62M and a float of 185.31M. WPG 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 WPG 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 WPG, either long or short, and we have not been compensated for this article.

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