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Duke Energy (DUK) Gains As Market Dips: What You Should Know
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Duke Energy (DUK - Free Report) closed the most recent trading day at $103.70, moving +0.69% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.4%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 4.72%.
Prior to today's trading, shares of the electric utility had gained 3.89% over the past month. This has outpaced the Utilities sector's loss of 0.85% and the S&P 500's loss of 5.57% in that time.
Duke Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.11, up 18.09% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.58 billion, up 5.52% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Duke Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.21% lower. Duke Energy currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Duke Energy is currently trading at a Forward P/E ratio of 19.48. For comparison, its industry has an average Forward P/E of 18.41, which means Duke Energy is trading at a premium to the group.
It is also worth noting that DUK currently has a PEG ratio of 3.57. 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. Utility - Electric Power stocks are, on average, holding a PEG ratio of 3.22 based on yesterday's closing prices.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 88, which puts 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Duke Energy (DUK) Gains As Market Dips: What You Should Know
Duke Energy (DUK - Free Report) closed the most recent trading day at $103.70, moving +0.69% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.4%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 4.72%.
Prior to today's trading, shares of the electric utility had gained 3.89% over the past month. This has outpaced the Utilities sector's loss of 0.85% and the S&P 500's loss of 5.57% in that time.
Duke Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.11, up 18.09% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.58 billion, up 5.52% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Duke Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.21% lower. Duke Energy currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Duke Energy is currently trading at a Forward P/E ratio of 19.48. For comparison, its industry has an average Forward P/E of 18.41, which means Duke Energy is trading at a premium to the group.
It is also worth noting that DUK currently has a PEG ratio of 3.57. 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. Utility - Electric Power stocks are, on average, holding a PEG ratio of 3.22 based on yesterday's closing prices.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 88, which puts 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.
You can find more information on all of these metrics, and much more, on Zacks.com.