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Here's Why Dominion Energy (D) Gained But Lagged the Market Today
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Dominion Energy (D - Free Report) closed the latest trading day at $49.75, indicating a +0.55% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 1.02%. On the other hand, the Dow registered a gain of 1.09%, and the technology-centric Nasdaq increased by 1.18%.
Prior to today's trading, shares of the energy company had lost 3.98% over the past month. This has was narrower than the Utilities sector's loss of 4.45% and lagged the S&P 500's gain of 4.44% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Dominion Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on August 1, 2024. The company is expected to report EPS of $0.59, up 11.32% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $3.83 billion, showing a 0.94% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.75 per share and a revenue of $16.45 billion, representing changes of +38.19% and +0.38%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Dominion Energy. 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 demonstrates that these adjustments in estimates directly associate with imminent 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 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. Within the past 30 days, our consensus EPS projection has moved 0.13% lower. Dominion Energy is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Dominion Energy is currently exchanging hands at a Forward P/E ratio of 18. This valuation marks a premium compared to its industry's average Forward P/E of 15.44.
Investors should also note that D has a PEG ratio of 1.33 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 average PEG ratio for the Utility - Electric Power industry stood at 2.51 at the close of the market yesterday.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 93, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow D in the coming trading sessions, be sure to utilize Zacks.com.
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Here's Why Dominion Energy (D) Gained But Lagged the Market Today
Dominion Energy (D - Free Report) closed the latest trading day at $49.75, indicating a +0.55% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 1.02%. On the other hand, the Dow registered a gain of 1.09%, and the technology-centric Nasdaq increased by 1.18%.
Prior to today's trading, shares of the energy company had lost 3.98% over the past month. This has was narrower than the Utilities sector's loss of 4.45% and lagged the S&P 500's gain of 4.44% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Dominion Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on August 1, 2024. The company is expected to report EPS of $0.59, up 11.32% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $3.83 billion, showing a 0.94% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.75 per share and a revenue of $16.45 billion, representing changes of +38.19% and +0.38%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Dominion Energy. 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 demonstrates that these adjustments in estimates directly associate with imminent 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 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. Within the past 30 days, our consensus EPS projection has moved 0.13% lower. Dominion Energy is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Dominion Energy is currently exchanging hands at a Forward P/E ratio of 18. This valuation marks a premium compared to its industry's average Forward P/E of 15.44.
Investors should also note that D has a PEG ratio of 1.33 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 average PEG ratio for the Utility - Electric Power industry stood at 2.51 at the close of the market yesterday.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 93, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow D in the coming trading sessions, be sure to utilize Zacks.com.