Duke Energy (DUK) Gains As Market Dips: What You Should Know
Duke Energy (DUK) closed at $105.19 in the latest trading session, marking a +0.01% move from the prior day. This change outpaced the S&P 500's 0.08% loss on the day. Elsewhere, the Dow lost 0.34%, while the tech-heavy Nasdaq added 11.55%.
Heading into today, shares of the electric utility had gained 4.81% over the past month, outpacing the Utilities sector's loss of 0.98% and the S&P 500's loss of 1.03% in that time.
Investors will be hoping for strength from Duke Energy as it approaches its next earnings release. On that day, Duke Energy is projected to report earnings of $1.11 per share, which would represent year-over-year growth of 18.09%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.58 billion, up 5.52% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Duke Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.21% lower. Duke Energy is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Duke Energy currently has a Forward P/E ratio of 18.55. This represents a premium compared to its industry's average Forward P/E of 17.89.
Meanwhile, DUK's PEG ratio is currently 3.4. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Utility - Electric Power industry currently had an average PEG ratio of 3.22 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Duke Energy Corporation (DUK) : Free Stock Analysis Report
