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Duke Energy (DUK) Dips More Than Broader Markets: What You Should Know
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Duke Energy (DUK - Free Report) closed the most recent trading day at $93.01, moving -0.32% from the previous trading session. This move lagged the S&P 500's daily loss of 0.1%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Coming into today, shares of the electric utility had gained 1.77% in the past month. In that same time, the Utilities sector lost 0.16%, while the S&P 500 gained 3.39%.
Investors will be hoping for strength from Duke Energy as it approaches its next earnings release, which is expected to be August 8, 2023. On that day, Duke Energy is projected to report earnings of $1.10 per share, which would represent a year-over-year decline of 3.51%. Meanwhile, our latest consensus estimate is calling for revenue of $6.7 billion, up 0.17% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.61 per share and revenue of $29.41 billion, which would represent changes of +6.45% and +0.93%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Duke Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. Duke Energy is currently a Zacks Rank #3 (Hold).
In terms of valuation, Duke Energy is currently trading at a Forward P/E ratio of 16.63. This represents a discount compared to its industry's average Forward P/E of 16.84.
Investors should also note that DUK has a PEG ratio of 2.72 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. DUK's industry had an average PEG ratio of 2.97 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 51, which puts it in the top 21% 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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Duke Energy (DUK) Dips More Than Broader Markets: What You Should Know
Duke Energy (DUK - Free Report) closed the most recent trading day at $93.01, moving -0.32% from the previous trading session. This move lagged the S&P 500's daily loss of 0.1%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Coming into today, shares of the electric utility had gained 1.77% in the past month. In that same time, the Utilities sector lost 0.16%, while the S&P 500 gained 3.39%.
Investors will be hoping for strength from Duke Energy as it approaches its next earnings release, which is expected to be August 8, 2023. On that day, Duke Energy is projected to report earnings of $1.10 per share, which would represent a year-over-year decline of 3.51%. Meanwhile, our latest consensus estimate is calling for revenue of $6.7 billion, up 0.17% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.61 per share and revenue of $29.41 billion, which would represent changes of +6.45% and +0.93%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Duke Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. Duke Energy is currently a Zacks Rank #3 (Hold).
In terms of valuation, Duke Energy is currently trading at a Forward P/E ratio of 16.63. This represents a discount compared to its industry's average Forward P/E of 16.84.
Investors should also note that DUK has a PEG ratio of 2.72 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. DUK's industry had an average PEG ratio of 2.97 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 51, which puts it in the top 21% 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.