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Duke Energy (DUK) Stock Slides as Market Rises: Facts to Know Before You Trade
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Duke Energy (DUK - Free Report) closed the latest trading day at $116.64, indicating a -0.9% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.49%. On the other hand, the Dow registered a loss of 0.2%, and the technology-centric Nasdaq increased by 1.22%.
The electric utility's shares have seen an increase of 0.87% over the last month, surpassing the Utilities sector's gain of 0.25% and the S&P 500's loss of 8.15%.
Market participants will be closely following the financial results of Duke Energy in its upcoming release. The company's upcoming EPS is projected at $1.59, signifying a 10.42% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.99 billion, up 4.1% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.32 per share and revenue of $31.77 billion, indicating changes of +7.12% and +4.66%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Duke Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.12% lower. Right now, Duke Energy possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Duke Energy currently has a Forward P/E ratio of 18.61. This signifies a premium in comparison to the average Forward P/E of 18.01 for its industry.
One should further note that DUK currently holds a PEG ratio of 2.94. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Utility - Electric Power industry stood at 2.61 at the close of the market yesterday.
The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 57, positioning it in the top 23% of all 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) Stock Slides as Market Rises: Facts to Know Before You Trade
Duke Energy (DUK - Free Report) closed the latest trading day at $116.64, indicating a -0.9% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.49%. On the other hand, the Dow registered a loss of 0.2%, and the technology-centric Nasdaq increased by 1.22%.
The electric utility's shares have seen an increase of 0.87% over the last month, surpassing the Utilities sector's gain of 0.25% and the S&P 500's loss of 8.15%.
Market participants will be closely following the financial results of Duke Energy in its upcoming release. The company's upcoming EPS is projected at $1.59, signifying a 10.42% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.99 billion, up 4.1% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.32 per share and revenue of $31.77 billion, indicating changes of +7.12% and +4.66%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Duke Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.12% lower. Right now, Duke Energy possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Duke Energy currently has a Forward P/E ratio of 18.61. This signifies a premium in comparison to the average Forward P/E of 18.01 for its industry.
One should further note that DUK currently holds a PEG ratio of 2.94. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Utility - Electric Power industry stood at 2.61 at the close of the market yesterday.
The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 57, positioning it in the top 23% of all 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.