Duke Energy (DUK) closed at $115.09 in the latest trading session, marking a +0.81% move from the prior day. The stock outpaced the S&P 500’s daily gain of 0.77%. Meanwhile, the Dow experienced a rise of 0.47%, and the technology-dominated Nasdaq saw an increase of 0.87%.
Coming into today, shares of the electric utility had lost 2.68% in the past month. In that same time, the Utilities sector lost 1.86%, while the S&P 500 gained 4.87%.
Analysts and investors alike will be keeping a close eye on the performance of Duke Energy in its upcoming earnings disclosure. The company’s earnings report is set to go public on November 7, 2024. It is anticipated that the company will report an EPS of $1.86, marking a 4.12% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.15 billion, indicating a 1.98% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.97 per share and revenue of $30.41 billion, which would represent changes of +7.37% and +4.66%, respectively, from the prior year.
Any recent changes to analyst estimates for Duke Energy should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. As of now, Duke Energy holds a Zacks Rank of #2 (Buy).
In terms of valuation, Duke Energy is presently being traded at a Forward P/E ratio of 19.12. This expresses a premium compared to the average Forward P/E of 17.27 of its industry.
We can also see that DUK currently has a PEG ratio of 3.13. 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 2.73 as of yesterday’s close.
The Utility – Electric Power industry is part of the Utilities sector. This industry, currently bearing a Zacks Industry Rank of 48, finds itself in the top 20% echelons of all 250+ industries.
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.
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
