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Duke Energy (DUK) Advances While Market Declines: Some Information for Investors
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In the latest market close, Duke Energy (DUK - Free Report) reached $88.68, with a +0.74% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 0.5%. Meanwhile, the Dow experienced a rise of 0.12%, and the technology-dominated Nasdaq saw a decrease of 1.23%.
The electric utility's stock has dropped by 7.77% in the past month, exceeding the Utilities sector's loss of 10.36% and lagging the S&P 500's loss of 2.4%.
The investment community will be paying close attention to the earnings performance of Duke Energy in its upcoming release. The company is slated to reveal its earnings on November 2, 2023. The company is predicted to post an EPS of $2.03, indicating a 14.04% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $8.2 billion, indicating a 2.97% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.60 per share and revenue of $29.52 billion. These totals would mark changes of +6.26% and +1.33%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Duke Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.18% lower. Duke Energy presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Duke Energy is currently trading at a Forward P/E ratio of 15.73. This represents a premium compared to its industry's average Forward P/E of 14.63.
It's also important to note that DUK currently trades at a PEG ratio of 2.58. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Utility - Electric Power industry had an average PEG ratio of 2.67 as trading concluded yesterday.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Duke Energy (DUK) Advances While Market Declines: Some Information for Investors
In the latest market close, Duke Energy (DUK - Free Report) reached $88.68, with a +0.74% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 0.5%. Meanwhile, the Dow experienced a rise of 0.12%, and the technology-dominated Nasdaq saw a decrease of 1.23%.
The electric utility's stock has dropped by 7.77% in the past month, exceeding the Utilities sector's loss of 10.36% and lagging the S&P 500's loss of 2.4%.
The investment community will be paying close attention to the earnings performance of Duke Energy in its upcoming release. The company is slated to reveal its earnings on November 2, 2023. The company is predicted to post an EPS of $2.03, indicating a 14.04% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $8.2 billion, indicating a 2.97% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.60 per share and revenue of $29.52 billion. These totals would mark changes of +6.26% and +1.33%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Duke Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.18% lower. Duke Energy presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Duke Energy is currently trading at a Forward P/E ratio of 15.73. This represents a premium compared to its industry's average Forward P/E of 14.63.
It's also important to note that DUK currently trades at a PEG ratio of 2.58. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Utility - Electric Power industry had an average PEG ratio of 2.67 as trading concluded yesterday.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.