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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 at $95.56 in the latest trading session, marking a +0.28% move from the prior day. This change outpaced the S&P 500's 0.02% loss on the day. Elsewhere, the Dow gained 0.23%, while the tech-heavy Nasdaq lost 0.12%.
Prior to today's trading, shares of the electric utility had gained 5.27% over the past month. This has outpaced the Utilities sector's gain of 2.13% and the S&P 500's gain of 5.14% in that time.
Investors will be hoping for strength from Duke Energy as it approaches its next earnings release, which is expected to be August 8, 2023. The company is expected to report EPS of $0.98, down 14.04% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.57 billion, down 1.75% 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 $29.42 billion. These totals would mark changes of +6.45% and +0.97%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Duke Energy. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. Duke Energy is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Duke Energy is holding a Forward P/E ratio of 16.99. This represents a discount compared to its industry's average Forward P/E of 17.01.
We can also see that DUK currently has a PEG ratio of 2.78. 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 3.07 as of yesterday's close.
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 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.
Be sure to follow all of these stock-moving metrics, and many 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 at $95.56 in the latest trading session, marking a +0.28% move from the prior day. This change outpaced the S&P 500's 0.02% loss on the day. Elsewhere, the Dow gained 0.23%, while the tech-heavy Nasdaq lost 0.12%.
Prior to today's trading, shares of the electric utility had gained 5.27% over the past month. This has outpaced the Utilities sector's gain of 2.13% and the S&P 500's gain of 5.14% in that time.
Investors will be hoping for strength from Duke Energy as it approaches its next earnings release, which is expected to be August 8, 2023. The company is expected to report EPS of $0.98, down 14.04% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.57 billion, down 1.75% 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 $29.42 billion. These totals would mark changes of +6.45% and +0.97%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Duke Energy. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. Duke Energy is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Duke Energy is holding a Forward P/E ratio of 16.99. This represents a discount compared to its industry's average Forward P/E of 17.01.
We can also see that DUK currently has a PEG ratio of 2.78. 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 3.07 as of yesterday's close.
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 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.