Dominion Energy (D) ended the recent trading session at $54.73, demonstrating a -1.41% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.94%. Elsewhere, the Dow gained 0.75%, while the tech-heavy Nasdaq added 1.52%.
Shares of the energy company witnessed a loss of 0.47% over the previous month, trailing the performance of the Utilities sector with its gain of 2.01%, and the S&P 500's gain of 1.67%.
The investment community will be paying close attention to the earnings performance of Dominion Energy in its upcoming release. On that day, Dominion Energy is projected to report earnings of $0.77 per share, which would represent year-over-year growth of 40%. At the same time, our most recent consensus estimate is projecting a revenue of $3.69 billion, reflecting a 5.81% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.39 per share and a revenue of $15.37 billion, demonstrating changes of +22.38% and +6.33%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Dominion Energy. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Dominion Energy presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Dominion Energy is presently trading at a Forward P/E ratio of 16.38. This represents a discount compared to its industry average Forward P/E of 18.
Meanwhile, D's PEG ratio is currently 1.21. 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. By the end of yesterday's trading, the Utility - Electric Power industry had an average PEG ratio of 2.63.
The Utility - Electric Power industry is part of the Utilities sector. This industry, currently bearing a Zacks Industry Rank of 70, finds itself in the top 29% echelons of all 250+ industries.
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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Dominion Energy Inc. (D): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
