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Why the Market Dipped But Dominion Energy (D) Gained Today
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The most recent trading session ended with Dominion Energy (D - Free Report) standing at $60.03, reflecting a +0.18% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.18%. Meanwhile, the Dow lost 0.8%, and the Nasdaq, a tech-heavy index, added 0.27%.
The energy company's stock has climbed by 3.44% in the past month, exceeding the Utilities sector's loss of 0.14% and lagging the S&P 500's gain of 4.46%.
Market participants will be closely following the financial results of Dominion Energy in its upcoming release. The company plans to announce its earnings on November 1, 2024. The company's earnings per share (EPS) are projected to be $0.93, reflecting a 20.78% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $4.1 billion, up 7.49% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.75 per share and revenue of $15.5 billion. These totals would mark changes of +38.19% and -5.46%, respectively, from last year.
Any recent changes to analyst estimates for Dominion Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 0.03% higher. Dominion Energy is currently a Zacks Rank #3 (Hold).
In terms of valuation, Dominion Energy is currently trading at a Forward P/E ratio of 21.77. For comparison, its industry has an average Forward P/E of 17.6, which means Dominion Energy is trading at a premium to the group.
One should further note that D currently holds a PEG ratio of 1.6. 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. As the market closed yesterday, the Utility - Electric Power industry was having an average PEG ratio of 2.81.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 61, this industry ranks in the top 25% of all industries, numbering over 250.
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.
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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Why the Market Dipped But Dominion Energy (D) Gained Today
The most recent trading session ended with Dominion Energy (D - Free Report) standing at $60.03, reflecting a +0.18% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.18%. Meanwhile, the Dow lost 0.8%, and the Nasdaq, a tech-heavy index, added 0.27%.
The energy company's stock has climbed by 3.44% in the past month, exceeding the Utilities sector's loss of 0.14% and lagging the S&P 500's gain of 4.46%.
Market participants will be closely following the financial results of Dominion Energy in its upcoming release. The company plans to announce its earnings on November 1, 2024. The company's earnings per share (EPS) are projected to be $0.93, reflecting a 20.78% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $4.1 billion, up 7.49% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.75 per share and revenue of $15.5 billion. These totals would mark changes of +38.19% and -5.46%, respectively, from last year.
Any recent changes to analyst estimates for Dominion Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 0.03% higher. Dominion Energy is currently a Zacks Rank #3 (Hold).
In terms of valuation, Dominion Energy is currently trading at a Forward P/E ratio of 21.77. For comparison, its industry has an average Forward P/E of 17.6, which means Dominion Energy is trading at a premium to the group.
One should further note that D currently holds a PEG ratio of 1.6. 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. As the market closed yesterday, the Utility - Electric Power industry was having an average PEG ratio of 2.81.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 61, this industry ranks in the top 25% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.