In the latest trading session, Dominion Energy (D) closed at $57.31, marking a -0.37% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.58%. At the same time, the Dow lost 1.02%, and the tech-heavy Nasdaq lost 11.95%.
Coming into today, shares of the energy company had gained 6.26% in the past month. In that same time, the Utilities sector gained 6.87%, while the S&P 500 gained 4.27%.
Wall Street will be looking for positivity from Dominion Energy as it approaches its next earnings report date. This is expected to be May 5, 2023. The company is expected to report EPS of $1.01, down 14.41% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.47 billion, up 4.5% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.87 per share and revenue of $17.46 billion. These totals would mark changes of -5.84% and +1.67%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Dominion Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.28% lower. Dominion Energy is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Dominion Energy is holding a Forward P/E ratio of 14.86. Its industry sports an average Forward P/E of 17.9, so we one might conclude that Dominion Energy is trading at a discount comparatively.
Investors should also note that D has a PEG ratio of 0.74 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. The Utility - Electric Power was holding an average PEG ratio of 3.02 at yesterday's closing price.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 105, which puts it in the top 42% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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