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Duke Energy (DUK) Beats Stock Market Upswing: What Investors Need to Know
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Duke Energy (DUK - Free Report) closed at $95.73 in the latest trading session, marking a +1.26% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.53%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 0.19%.
Coming into today, shares of the electric utility had lost 1.83% in the past month. In that same time, the Utilities sector lost 7.77%, while the S&P 500 gained 2.48%.
Market participants will be closely following the financial results of Duke Energy in its upcoming release. The company plans to announce its earnings on February 8, 2024. The company is forecasted to report an EPS of $1.56, showcasing a 40.54% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.53 billion, up 2.45% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for Duke Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.34% higher. Duke Energy is currently a Zacks Rank #3 (Hold).
In the context of valuation, Duke Energy is at present trading with a Forward P/E ratio of 15.83. This valuation marks a premium compared to its industry's average Forward P/E of 14.15.
It is also worth noting that DUK currently has a PEG ratio of 2.5. 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 had an average PEG ratio of 2.5 as trading concluded yesterday.
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 assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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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Duke Energy (DUK) Beats Stock Market Upswing: What Investors Need to Know
Duke Energy (DUK - Free Report) closed at $95.73 in the latest trading session, marking a +1.26% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.53%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 0.19%.
Coming into today, shares of the electric utility had lost 1.83% in the past month. In that same time, the Utilities sector lost 7.77%, while the S&P 500 gained 2.48%.
Market participants will be closely following the financial results of Duke Energy in its upcoming release. The company plans to announce its earnings on February 8, 2024. The company is forecasted to report an EPS of $1.56, showcasing a 40.54% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.53 billion, up 2.45% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for Duke Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.34% higher. Duke Energy is currently a Zacks Rank #3 (Hold).
In the context of valuation, Duke Energy is at present trading with a Forward P/E ratio of 15.83. This valuation marks a premium compared to its industry's average Forward P/E of 14.15.
It is also worth noting that DUK currently has a PEG ratio of 2.5. 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 had an average PEG ratio of 2.5 as trading concluded yesterday.
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 assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.