Yahoo Finance Duke Energy (DUK) Outperforms Broader Market: What You Need to Know
Duke Energy (DUK) closed the most recent trading day at $98.73, moving +1.04% from the previous trading session. This change outpaced the S&P 500's 0.32% gain on the day. Elsewhere, the Dow saw an upswing of 0.38%, while the tech-heavy Nasdaq appreciated by 0.35%.
Prior to today's trading, shares of the electric utility had gained 1.03% over the past month. This has outpaced the Utilities sector's loss of 4.88% and the S&P 500's loss of 2% in that time.
Market participants will be closely following the financial results of Duke Energy in its upcoming release. The company plans to announce its earnings on May 7, 2024. The company is predicted to post an EPS of $1.43, indicating a 19.17% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $7.85 billion, indicating a 7.93% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $5.98 per share and a revenue of $30.06 billion, demonstrating changes of +7.55% and +3.45%, respectively, from the preceding 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 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.08% lower. Duke Energy currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Duke Energy is currently trading at a Forward P/E ratio of 16.33. This expresses a premium compared to the average Forward P/E of 15.17 of its industry.
Also, we should mention that DUK has a PEG ratio of 2.6. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Utility - Electric Power industry had an average PEG ratio of 2.71.
The Utility - Electric Power industry is part of the Utilities sector. Currently, this industry holds a Zacks Industry Rank of 85, positioning it in the top 34% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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 Report
