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Dominion Energy (D) Rises As Market Takes a Dip: Key Facts
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Dominion Energy (D - Free Report) closed the latest trading day at $41.88, indicating a +0.79% change from the previous session's end. 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%.
Prior to today's trading, shares of the energy company had lost 14.35% over the past month. This has lagged the Utilities sector's loss of 10.36% and the S&P 500's loss of 2.4% in that time.
Market participants will be closely following the financial results of Dominion Energy in its upcoming release. The company plans to announce its earnings on November 3, 2023. The company is predicted to post an EPS of $0.81, indicating a 27.03% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $4.43 billion, indicating a 0.93% 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 $3.20 per share and revenue of $17.58 billion. These totals would mark changes of -22.14% and +2.34%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Dominion Energy. Recent revisions tend to reflect the latest near-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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 6.04% lower. Currently, Dominion Energy is carrying a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Dominion Energy is currently being traded at a Forward P/E ratio of 12.97. Its industry sports an average Forward P/E of 14.63, so one might conclude that Dominion Energy is trading at a discount comparatively.
Also, we should mention that D has a PEG ratio of 3.24. 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 2.67 based on yesterday's closing prices.
The Utility - Electric Power industry is part of the Utilities sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons 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.
To follow D in the coming trading sessions, be sure to utilize Zacks.com.
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Dominion Energy (D) Rises As Market Takes a Dip: Key Facts
Dominion Energy (D - Free Report) closed the latest trading day at $41.88, indicating a +0.79% change from the previous session's end. 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%.
Prior to today's trading, shares of the energy company had lost 14.35% over the past month. This has lagged the Utilities sector's loss of 10.36% and the S&P 500's loss of 2.4% in that time.
Market participants will be closely following the financial results of Dominion Energy in its upcoming release. The company plans to announce its earnings on November 3, 2023. The company is predicted to post an EPS of $0.81, indicating a 27.03% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $4.43 billion, indicating a 0.93% 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 $3.20 per share and revenue of $17.58 billion. These totals would mark changes of -22.14% and +2.34%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Dominion Energy. Recent revisions tend to reflect the latest near-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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 6.04% lower. Currently, Dominion Energy is carrying a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Dominion Energy is currently being traded at a Forward P/E ratio of 12.97. Its industry sports an average Forward P/E of 14.63, so one might conclude that Dominion Energy is trading at a discount comparatively.
Also, we should mention that D has a PEG ratio of 3.24. 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 2.67 based on yesterday's closing prices.
The Utility - Electric Power industry is part of the Utilities sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons 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.
To follow D in the coming trading sessions, be sure to utilize Zacks.com.