Simon Property Group Price Target Cut to $173.00 by Analysts at Jefferies Group (SPG)
Analysts at Jefferies Group decreased their price target on shares of Simon Property Group (NYSE:SPG) from $186.00 to $173.00 in a research report issued to clients and investors on Wednesday, AnalystRatings.Net reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s target price would suggest a potential upside of 12.00% from the stock’s previous close.
Simon Property Group (NYSE:SPG) traded up 2.00% during mid-day trading on Wednesday, hitting $154.46. The stock had a trading volume of 2,898,692 shares. Simon Property Group has a 52-week low of $142.47 and a 52-week high of $182.45. The stock’s 50-day moving average is $150.7 and its 200-day moving average is $162.7. The company has a market cap of $47.934 billion and a P/E ratio of 39.14.
Simon Property Group (NYSE:SPG) last released its earnings data on Monday, July 29th. The company reported $2.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.07 by $0.04. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company posted $1.89 earnings per share. Simon Property Group’s revenue was up 4.0% compared to the same quarter last year. Analysts expect that Simon Property Group will post $8.74 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on SPG. Analysts at Cowen and Company cut their price target on shares of Simon Property Group (NYSE:SPG) from $199.00 to $177.00 in a research note to investors on Thursday, September 12th. They now have an “outperform” rating on the stock. Separately, analysts at Janney Montgomery Scott initiated coverage on shares of Simon Property Group (NYSE:SPG) in a research note to investors on Tuesday, September 10th. They set a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Simon Property Group (NYSE:SPG) in a research note to investors on Thursday, September 5th. They now have a $152.00 price target on the stock.
Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Simon Property Group has a consensus rating of “Buy” and an average price target of $178.54.
Simon Property Group, Inc(NYSE:SPG), is a self-administered and self-managed real estate investment trust (REIT).
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