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Duke Energy (DUK) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest market close, Duke Energy (DUK - Free Report) reached $114, with a -0.36% movement compared to the previous day. This move lagged the S&P 500's daily loss of 0.33%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, lost 0.56%.
The electric utility's stock has dropped by 1.56% in the past month, exceeding the Utilities sector's loss of 4.45% and lagging the S&P 500's gain of 1.83%.
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. The company is predicted to post an EPS of $1.73, indicating a 10.82% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $8 billion, reflecting a 0.01% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.98 per share and revenue of $30.37 billion, indicating changes of +7.55% and +4.5%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Duke Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.06% upward. Duke Energy is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Duke Energy is currently trading at a Forward P/E ratio of 19.14. This denotes a premium relative to the industry's average Forward P/E of 17.13.
Also, we should mention that DUK has a PEG ratio of 3.12. 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. As the market closed yesterday, the Utility - Electric Power industry was having an average PEG ratio of 2.76.
The Utility - Electric Power industry is part of the Utilities sector. At present, this industry carries a Zacks Industry Rank of 102, placing it within the top 41% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DUK in the coming trading sessions, be sure to utilize Zacks.com.
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Duke Energy (DUK) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest market close, Duke Energy (DUK - Free Report) reached $114, with a -0.36% movement compared to the previous day. This move lagged the S&P 500's daily loss of 0.33%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, lost 0.56%.
The electric utility's stock has dropped by 1.56% in the past month, exceeding the Utilities sector's loss of 4.45% and lagging the S&P 500's gain of 1.83%.
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. The company is predicted to post an EPS of $1.73, indicating a 10.82% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $8 billion, reflecting a 0.01% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.98 per share and revenue of $30.37 billion, indicating changes of +7.55% and +4.5%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Duke Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.06% upward. Duke Energy is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Duke Energy is currently trading at a Forward P/E ratio of 19.14. This denotes a premium relative to the industry's average Forward P/E of 17.13.
Also, we should mention that DUK has a PEG ratio of 3.12. 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. As the market closed yesterday, the Utility - Electric Power industry was having an average PEG ratio of 2.76.
The Utility - Electric Power industry is part of the Utilities sector. At present, this industry carries a Zacks Industry Rank of 102, placing it within the top 41% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DUK in the coming trading sessions, be sure to utilize Zacks.com.