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Here's Why Dominion Energy (D) Fell More Than Broader Market
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Dominion Energy (D - Free Report) closed at $40.02 in the latest trading session, marking a -1.53% move from the prior day. The stock's change was less than the S&P 500's daily loss of 1.26%. On the other hand, the Dow registered a loss of 0.86%, and the technology-centric Nasdaq decreased by 1.54%.
Coming into today, shares of the energy company had lost 14.24% in the past month. In that same time, the Utilities sector lost 11.96%, while the S&P 500 lost 3.67%.
Investors will be eagerly watching for the performance of Dominion Energy in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 3, 2023. The company is predicted to post an EPS of $0.79, indicating a 28.83% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.29 billion, down 2.1% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.11 per share and revenue of $17.18 billion, which would represent changes of -24.33% and +0.01%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Dominion Energy. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 4.35% lower. Dominion Energy is currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note Dominion Energy's current valuation metrics, including its Forward P/E ratio of 13.06. This indicates a discount in contrast to its industry's Forward P/E of 14.47.
Investors should also note that D has a PEG ratio of 3.27 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. By the end of yesterday's trading, the Utility - Electric Power industry had an average PEG ratio of 2.68.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 52, this industry ranks in the top 21% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Here's Why Dominion Energy (D) Fell More Than Broader Market
Dominion Energy (D - Free Report) closed at $40.02 in the latest trading session, marking a -1.53% move from the prior day. The stock's change was less than the S&P 500's daily loss of 1.26%. On the other hand, the Dow registered a loss of 0.86%, and the technology-centric Nasdaq decreased by 1.54%.
Coming into today, shares of the energy company had lost 14.24% in the past month. In that same time, the Utilities sector lost 11.96%, while the S&P 500 lost 3.67%.
Investors will be eagerly watching for the performance of Dominion Energy in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 3, 2023. The company is predicted to post an EPS of $0.79, indicating a 28.83% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.29 billion, down 2.1% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.11 per share and revenue of $17.18 billion, which would represent changes of -24.33% and +0.01%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Dominion Energy. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 4.35% lower. Dominion Energy is currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note Dominion Energy's current valuation metrics, including its Forward P/E ratio of 13.06. This indicates a discount in contrast to its industry's Forward P/E of 14.47.
Investors should also note that D has a PEG ratio of 3.27 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. By the end of yesterday's trading, the Utility - Electric Power industry had an average PEG ratio of 2.68.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 52, this industry ranks in the top 21% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.