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Duke Energy (DUK) Stock Falls Amid Market Uptick: What Investors Need to Know

Duke Energy (DUK) ended the recent trading session at $98.12, demonstrating a -0.12% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.87% for the day. Meanwhile, the Dow gained 0.67%, and the Nasdaq, a tech-heavy index, added 1.11%.

Shares of the electric utility witnessed a gain of 3.84% over the previous month, beating the performance of the Utilities sector with its loss of 6.5% and the S&P 500's loss of 3.97%.

The investment community will be paying close attention to the earnings performance of Duke Energy in its upcoming release. The company is slated to reveal its earnings on May 7, 2024. It is anticipated that the company will report an EPS of $1.49, marking a 24.17% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $7.85 billion, indicating a 7.93% upward movement from the same quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.99 per share and a revenue of $30.36 billion, indicating changes of +7.73% and +4.48%, respectively, from the former year.

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Any recent changes to analyst estimates for Duke Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% lower. As of now, Duke Energy holds a Zacks Rank of #3 (Hold).

From a valuation perspective, Duke Energy is currently exchanging hands at a Forward P/E ratio of 16.41. For comparison, its industry has an average Forward P/E of 15.19, which means Duke Energy is trading at a premium to the group.

Investors should also note that DUK has a PEG ratio of 2.61 right now. 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 currently had an average PEG ratio of 2.64 as of yesterday's close.

The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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 Corporation (DUK) : Free Stock Analysis Report

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