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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 $98.40, moving +1.02% from the previous trading session. This change outpaced the S&P 500's 0.01% loss on the day. Elsewhere, the Dow lost 0.23%, while the tech-heavy Nasdaq added 0.97%.
Prior to today's trading, shares of the electric utility had gained 2.79% over the past month. This has lagged the Utilities sector's gain of 5.17% and the S&P 500's gain of 6.23% in that time.
Investors will be hoping for strength from Duke Energy as it approaches its next earnings release, which is expected to be May 9, 2023. The company is expected to report EPS of $1.36, up 4.62% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.39 billion, up 3.55% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.61 per share and revenue of $29.43 billion, which would represent changes of +6.45% and +1.02%, respectively, from the prior year.
Any recent changes to analyst estimates for Duke Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.28% lower. Duke Energy is currently a Zacks Rank #3 (Hold).
Investors should also note Duke Energy's current valuation metrics, including its Forward P/E ratio of 17.35. This valuation marks a discount compared to its industry's average Forward P/E of 17.58.
Investors should also note that DUK has a PEG ratio of 3.19 right now. 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. DUK's industry had an average PEG ratio of 2.97 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% 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 (DUK) Gains As Market Dips: What You Should Know
Duke Energy (DUK - Free Report) closed the most recent trading day at $98.40, moving +1.02% from the previous trading session. This change outpaced the S&P 500's 0.01% loss on the day. Elsewhere, the Dow lost 0.23%, while the tech-heavy Nasdaq added 0.97%.
Prior to today's trading, shares of the electric utility had gained 2.79% over the past month. This has lagged the Utilities sector's gain of 5.17% and the S&P 500's gain of 6.23% in that time.
Investors will be hoping for strength from Duke Energy as it approaches its next earnings release, which is expected to be May 9, 2023. The company is expected to report EPS of $1.36, up 4.62% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.39 billion, up 3.55% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.61 per share and revenue of $29.43 billion, which would represent changes of +6.45% and +1.02%, respectively, from the prior year.
Any recent changes to analyst estimates for Duke Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.28% lower. Duke Energy is currently a Zacks Rank #3 (Hold).
Investors should also note Duke Energy's current valuation metrics, including its Forward P/E ratio of 17.35. This valuation marks a discount compared to its industry's average Forward P/E of 17.58.
Investors should also note that DUK has a PEG ratio of 3.19 right now. 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. DUK's industry had an average PEG ratio of 2.97 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% 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.