In the latest close session, Duke Energy (DUK) was up +1.6% at $115.66. The stock outperformed the S&P 500, which registered a daily gain of 0.58%. Meanwhile, the Dow gained 0.49%, and the Nasdaq, a tech-heavy index, added 0.45%.
Coming into today, shares of the electric utility had lost 5.31% in the past month. In that same time, the Utilities sector lost 5.94%, while the S&P 500 gained 0.84%.
The upcoming earnings release of Duke Energy will be of great interest to investors. On that day, Duke Energy is projected to report earnings of $1.85 per share, which would represent year-over-year growth of 2.21%. Meanwhile, our latest consensus estimate is calling for revenue of $8.86 billion, up 3.74% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.72 per share and revenue of $33.79 billion, indicating changes of +6.5% and +4.81%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Duke Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, there's been a 0.01% fall in the Zacks Consensus EPS estimate. Duke Energy is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Duke Energy currently has a Forward P/E ratio of 16.94. This indicates a premium in contrast to its industry's Forward P/E of 16.68.
One should further note that DUK currently holds a PEG ratio of 2.66. 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 of the close of trade yesterday, the Utility - Electric Power industry held an average PEG ratio of 2.46.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 112, putting it in the top 46% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Duke Energy Corporation (DUK): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).