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Here's Why Duke Energy (DUK) Fell More Than Broader Market
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Duke Energy (DUK - Free Report) closed the most recent trading day at $117.77, moving -1.05% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.45%. At the same time, the Dow lost 0.63%, and the tech-heavy Nasdaq lost 0.78%.
Shares of the electric utility witnessed a loss of 3.69% over the previous month, beating the performance of the Utilities sector with its loss of 4.83%, and underperforming the S&P 500's loss of 1.99%.
The investment community will be paying close attention to the earnings performance of Duke Energy in its upcoming release. The company is forecasted to report an EPS of $1.89, showcasing a 4.42% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.87 billion, up 3.86% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.72 per share and a revenue of $33.78 billion, representing changes of +6.5% and +4.79%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Duke Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.04% higher. Duke Energy currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Duke Energy is at present trading with a Forward P/E ratio of 17.72. This represents a premium compared to its industry average Forward P/E of 17.02.
Investors should also note that DUK has a PEG ratio of 2.78 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Utility - Electric Power industry stood at 2.54 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 179, putting it in the bottom 28% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Here's Why Duke Energy (DUK) Fell More Than Broader Market
Duke Energy (DUK - Free Report) closed the most recent trading day at $117.77, moving -1.05% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.45%. At the same time, the Dow lost 0.63%, and the tech-heavy Nasdaq lost 0.78%.
Shares of the electric utility witnessed a loss of 3.69% over the previous month, beating the performance of the Utilities sector with its loss of 4.83%, and underperforming the S&P 500's loss of 1.99%.
The investment community will be paying close attention to the earnings performance of Duke Energy in its upcoming release. The company is forecasted to report an EPS of $1.89, showcasing a 4.42% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.87 billion, up 3.86% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.72 per share and a revenue of $33.78 billion, representing changes of +6.5% and +4.79%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Duke Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.04% higher. Duke Energy currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Duke Energy is at present trading with a Forward P/E ratio of 17.72. This represents a premium compared to its industry average Forward P/E of 17.02.
Investors should also note that DUK has a PEG ratio of 2.78 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Utility - Electric Power industry stood at 2.54 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 179, putting it in the bottom 28% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.