Duke Energy (DUK) Dips More Than Broader Markets: What You Should Know
Duke Energy (DUK) closed the most recent trading day at $92.95, moving -1.92% from the previous trading session. This change lagged the S&P 500's daily loss of 1.65%. Elsewhere, the Dow lost 1.63%, while the tech-heavy Nasdaq lost 6.65%.
Coming into today, shares of the electric utility had lost 2.98% in the past month. In that same time, the Utilities sector lost 1.36%, while the S&P 500 gained 0.3%.
Wall Street will be looking for positivity from Duke Energy as it approaches its next earnings report date. In that report, analysts expect Duke Energy to post earnings of $1.40 per share. This would mark year-over-year growth of 7.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.5 billion, up 5.16% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.63 per share and revenue of $29.49 billion, which would represent changes of +6.83% and +1.22%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Duke Energy. These revisions help to show the ever-changing nature of near-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% higher. Duke Energy is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Duke Energy currently has a Forward P/E ratio of 16.83. This represents a discount compared to its industry's average Forward P/E of 16.89.
Also, we should mention that DUK has a PEG ratio of 3.09. 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. DUK's industry had an average PEG ratio of 2.81 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% 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.
To follow DUK in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Duke Energy Corporation (DUK) : Free Stock Analysis Report
To read this article on Zacks.com click here.