Simon Property Group Increases Sales but Misses Estimates on Earnings
Simon Property Group (NYS: SPG) reported earnings on Feb. 3. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Simon Property Group beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share expanded significantly.
Gross margins increased, operating margins dropped, and net margins expanded.
Simon Property Group reported revenue of $1.17 billion. The 11 analysts polled by S&P Capital IQ wanted to see revenue of $1.14 billion. Sales were 4.6% higher than the prior-year quarter's $1.12 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at $0.81. The five earnings estimates compiled by S&P Capital IQ predicted $0.91 per share on the same basis. GAAP EPS of $1.24 for Q4 were 68% higher than the prior-year quarter's $0.74 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 79.7%, 50 basis points better than the prior-year quarter. Operating margin was 45.5%, 10 basis points worse than the prior-year quarter. Net margin was 31.1%, 1,160 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.04 billion. On the bottom line, the average EPS estimate is $0.67.
Next year's average estimate for revenue is $4.53 billion. The average EPS estimate is $3.32.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 282 members out of 658 rating the stock outperform, and 376 members rating it underperform. Among 214 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 95 give Simon Property Group a green thumbs-up, and 119 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Simon Property Group is outperform, with an average price target of $132.06.
Can your portfolio provide you with enough income to last through retirement? You'll need more than Simon Property Group. Learn how to maximize your investment income and "Secure Your Future With 11 Rock-Solid Dividend Stocks." Click here for instant access to this free report.
- Add Simon Property Group to My Watchlist.
At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.