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Duke Energy (DUK) Ascends While Market Falls: Some Facts to Note

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Duke Energy (DUK - Free Report) closed at $88.15 in the latest trading session, marking a +0.44% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 1.43% for the day. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 2.43%.

Shares of the electric utility have depreciated by 3.69% over the course of the past month, outperforming the Utilities sector's loss of 10.6% and lagging the S&P 500's loss of 1.55%.

Investors will be eagerly watching for the performance of Duke Energy in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 2, 2023. In that report, analysts expect Duke Energy to post earnings of $1.98 per share. This would mark year-over-year growth of 11.24%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.14 billion, up 2.12% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.59 per share and revenue of $29.46 billion, indicating changes of +6.07% and +1.13%, respectively, compared to the previous year.

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. 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. Over the past month, there's been a 0.27% fall in the Zacks Consensus EPS estimate. Duke Energy is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, Duke Energy is holding a Forward P/E ratio of 15.69. This valuation marks a premium compared to its industry's average Forward P/E of 14.5.

Meanwhile, DUK's PEG ratio is currently 2.58. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Utility - Electric Power was holding an average PEG ratio of 2.69 at yesterday's closing price.

The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 61, positioning it in the top 25% of all 250+ industries.

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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.


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