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Duke Energy (DUK) Rises As Market Takes a Dip: Key Facts
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Duke Energy (DUK - Free Report) closed the most recent trading day at $113.92, moving +1.17% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.84%. Meanwhile, the Dow experienced a drop of 1.51%, and the technology-dominated Nasdaq saw a decrease of 2.43%.
Heading into today, shares of the electric utility had gained 12.78% over the past month, outpacing the Utilities sector's gain of 9.67% and the S&P 500's loss of 0.43% in that time.
Market participants will be closely following the financial results of Duke Energy in its upcoming release. The company plans to announce its earnings on August 6, 2024. The company is predicted to post an EPS of $1.01, indicating a 10.99% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.78 billion, indicating a 3.08% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.97 per share and a revenue of $30.27 billion, indicating changes of +7.37% and +4.15%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Duke Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 0.04% lower. Duke Energy is currently a Zacks Rank #4 (Sell).
In the context of valuation, Duke Energy is at present trading with a Forward P/E ratio of 18.87. Its industry sports an average Forward P/E of 16.59, so one might conclude that Duke Energy is trading at a premium comparatively.
Investors should also note that DUK has a PEG ratio of 3.09 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. 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. With its current Zacks Industry Rank of 63, this industry ranks in the top 25% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Duke Energy (DUK) Rises As Market Takes a Dip: Key Facts
Duke Energy (DUK - Free Report) closed the most recent trading day at $113.92, moving +1.17% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.84%. Meanwhile, the Dow experienced a drop of 1.51%, and the technology-dominated Nasdaq saw a decrease of 2.43%.
Heading into today, shares of the electric utility had gained 12.78% over the past month, outpacing the Utilities sector's gain of 9.67% and the S&P 500's loss of 0.43% in that time.
Market participants will be closely following the financial results of Duke Energy in its upcoming release. The company plans to announce its earnings on August 6, 2024. The company is predicted to post an EPS of $1.01, indicating a 10.99% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.78 billion, indicating a 3.08% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.97 per share and a revenue of $30.27 billion, indicating changes of +7.37% and +4.15%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Duke Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 0.04% lower. Duke Energy is currently a Zacks Rank #4 (Sell).
In the context of valuation, Duke Energy is at present trading with a Forward P/E ratio of 18.87. Its industry sports an average Forward P/E of 16.59, so one might conclude that Duke Energy is trading at a premium comparatively.
Investors should also note that DUK has a PEG ratio of 3.09 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. 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. With its current Zacks Industry Rank of 63, this industry ranks in the top 25% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.