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Duke Energy (DUK) Gains As Market Dips: What You Should Know
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Duke Energy (DUK - Free Report) closed at $95.83 in the latest trading session, marking a +0.31% move from the prior day. This change outpaced the S&P 500's 1.61% loss on the day. Elsewhere, the Dow saw a downswing of 0.82%, while the tech-heavy Nasdaq depreciated by 2.23%.
Coming into today, shares of the electric utility had lost 2.33% in the past month. In that same time, the Utilities sector lost 6.62%, while the S&P 500 gained 3.28%.
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 expected to report EPS of $1.54, up 38.74% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $7.53 billion, indicating a 2.45% increase compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 0.24% higher within the past month. Duke Energy presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Duke Energy is currently exchanging hands at a Forward P/E ratio of 15.99. This denotes a premium relative to the industry's average Forward P/E of 14.57.
It's also important to note that DUK currently trades at a PEG ratio of 2.52. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Utility - Electric Power industry stood at 2.52 at the close of the market yesterday.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 33% of all 250+ industries.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Duke Energy (DUK) Gains As Market Dips: What You Should Know
Duke Energy (DUK - Free Report) closed at $95.83 in the latest trading session, marking a +0.31% move from the prior day. This change outpaced the S&P 500's 1.61% loss on the day. Elsewhere, the Dow saw a downswing of 0.82%, while the tech-heavy Nasdaq depreciated by 2.23%.
Coming into today, shares of the electric utility had lost 2.33% in the past month. In that same time, the Utilities sector lost 6.62%, while the S&P 500 gained 3.28%.
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 expected to report EPS of $1.54, up 38.74% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $7.53 billion, indicating a 2.45% increase compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 0.24% higher within the past month. Duke Energy presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Duke Energy is currently exchanging hands at a Forward P/E ratio of 15.99. This denotes a premium relative to the industry's average Forward P/E of 14.57.
It's also important to note that DUK currently trades at a PEG ratio of 2.52. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Utility - Electric Power industry stood at 2.52 at the close of the market yesterday.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 33% of all 250+ industries.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.