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Duke Energy (DUK) Stock Falls Amid Market Uptick: What Investors Need to Know
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Duke Energy (DUK - Free Report) closed the latest trading day at $95.56, indicating a -0.31% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 1.23%. Elsewhere, the Dow saw an upswing of 1.06%, while the tech-heavy Nasdaq appreciated by 1.7%.
Heading into today, shares of the electric utility had lost 0.52% over the past month, outpacing the Utilities sector's loss of 6.72% and lagging the S&P 500's gain of 0.94% in that time.
The upcoming earnings release of Duke Energy will be of great interest to investors. The company's earnings report is expected on February 8, 2024. The company is predicted to post an EPS of $1.56, indicating a 40.54% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.55 billion, up 2.7% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Duke Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.29% increase. Duke Energy is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Duke Energy is currently exchanging hands at a Forward P/E ratio of 16.06. This denotes a premium relative to the industry's average Forward P/E of 14.65.
It is also worth noting that DUK currently has a PEG ratio of 2.53. 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. By the end of yesterday's trading, the Utility - Electric Power industry had an average PEG ratio of 2.54.
The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 102, positioning it in the top 41% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Duke Energy (DUK) Stock Falls Amid Market Uptick: What Investors Need to Know
Duke Energy (DUK - Free Report) closed the latest trading day at $95.56, indicating a -0.31% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 1.23%. Elsewhere, the Dow saw an upswing of 1.06%, while the tech-heavy Nasdaq appreciated by 1.7%.
Heading into today, shares of the electric utility had lost 0.52% over the past month, outpacing the Utilities sector's loss of 6.72% and lagging the S&P 500's gain of 0.94% in that time.
The upcoming earnings release of Duke Energy will be of great interest to investors. The company's earnings report is expected on February 8, 2024. The company is predicted to post an EPS of $1.56, indicating a 40.54% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.55 billion, up 2.7% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Duke Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.29% increase. Duke Energy is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Duke Energy is currently exchanging hands at a Forward P/E ratio of 16.06. This denotes a premium relative to the industry's average Forward P/E of 14.65.
It is also worth noting that DUK currently has a PEG ratio of 2.53. 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. By the end of yesterday's trading, the Utility - Electric Power industry had an average PEG ratio of 2.54.
The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 102, positioning it in the top 41% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.