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Why the Market Dipped But Duke Energy (DUK) Gained Today

Duke Energy (DUK) closed the latest trading day at $95.93, indicating a +1.51% change from the previous session's end. This change outpaced the S&P 500's 0.22% loss on the day. At the same time, the Dow added 0.06%, and the tech-heavy Nasdaq lost 0.52%.

The electric utility's shares have seen a decrease of 0.95% over the last month, surpassing the Utilities sector's loss of 7.82% and the S&P 500's loss of 1.66%.

The investment community will be closely monitoring the performance of Duke Energy in its forthcoming earnings report. The company is scheduled to release its earnings on May 7, 2024. The company is predicted to post an EPS of $1.49, indicating a 24.17% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $7.85 billion, indicating a 7.93% increase compared to the same quarter of the previous year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.99 per share and a revenue of $30.36 billion, representing changes of +7.73% and +4.48%, respectively, from the prior year.

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Any recent changes to analyst estimates for Duke Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.03% lower. Right now, Duke Energy possesses a Zacks Rank of #3 (Hold).

Investors should also note Duke Energy's current valuation metrics, including its Forward P/E ratio of 15.79. This signifies a premium in comparison to the average Forward P/E of 14.8 for its industry.

We can additionally observe that DUK currently boasts a PEG ratio of 2.51. 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 2.57 as of yesterday's close.

The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 153, this industry ranks in the bottom 40% of all industries, numbering over 250.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Duke Energy Corporation (DUK) : Free Stock Analysis Report

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