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Duke Energy (DUK) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Duke Energy (DUK - Free Report) closed at $93.31, marking a +1.03% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.85%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 5.61%.
Coming into today, shares of the electric utility had gained 1.66% in the past month. In that same time, the Utilities sector lost 1%, while the S&P 500 gained 3.18%.
Investors will be hoping for strength from Duke Energy as it approaches its next earnings release, which is expected to be August 8, 2023. In that report, analysts expect Duke Energy to post earnings of $1.10 per share. This would mark a year-over-year decline of 3.51%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.7 billion, up 0.17% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.61 per share and revenue of $29.41 billion. These totals would mark changes of +6.45% and +0.93%, respectively, from last 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. 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 remained stagnant. Duke Energy is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Duke Energy's current valuation metrics, including its Forward P/E ratio of 16.46. For comparison, its industry has an average Forward P/E of 16.72, which means Duke Energy is trading at a discount to the group.
Investors should also note that DUK has a PEG ratio of 2.69 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Utility - Electric Power was holding an average PEG ratio of 2.94 at yesterday's closing price.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 58, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Duke Energy (DUK - Free Report) closed at $93.31, marking a +1.03% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.85%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 5.61%.
Coming into today, shares of the electric utility had gained 1.66% in the past month. In that same time, the Utilities sector lost 1%, while the S&P 500 gained 3.18%.
Investors will be hoping for strength from Duke Energy as it approaches its next earnings release, which is expected to be August 8, 2023. In that report, analysts expect Duke Energy to post earnings of $1.10 per share. This would mark a year-over-year decline of 3.51%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.7 billion, up 0.17% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.61 per share and revenue of $29.41 billion. These totals would mark changes of +6.45% and +0.93%, respectively, from last 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. 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 remained stagnant. Duke Energy is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Duke Energy's current valuation metrics, including its Forward P/E ratio of 16.46. For comparison, its industry has an average Forward P/E of 16.72, which means Duke Energy is trading at a discount to the group.
Investors should also note that DUK has a PEG ratio of 2.69 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Utility - Electric Power was holding an average PEG ratio of 2.94 at yesterday's closing price.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 58, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.