Duke Energy (DUK) closed the most recent trading day at $116.19, moving -1.32% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.34%. Meanwhile, the Dow lost 0.94%, and the Nasdaq, a tech-heavy index, added 0.16%.
Shares of the electric utility witnessed a gain of 2.17% over the previous month, beating the performance of the Utilities sector with its loss of 3.09%, and the S&P 500's gain of 1.19%.
Analysts and investors alike will be keeping a close eye on the performance of Duke Energy in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.54, marking a 7.23% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $7.66 billion, up 4.11% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.32 per share and a revenue of $31.83 billion, indicating changes of +7.12% and 0%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Duke Energy. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 0.15% fall in the Zacks Consensus EPS estimate. Right now, Duke Energy possesses a Zacks Rank of #4 (Sell).
Digging into valuation, Duke Energy currently has a Forward P/E ratio of 17.57. This signifies a premium in comparison to the average Forward P/E of 17.07 for its industry.
We can also see that DUK currently has a PEG ratio of 2.56. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Utility - Electric Power industry held an average PEG ratio of 2.51.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 64, which puts it in the top 27% 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 ReportThis article originally published on Zacks Investment Research (zacks.com).
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