Duke Energy (DUK) closed at $125.97 in the latest trading session, marking a -2.8% move from the prior day. This change lagged the S&P 500's 0.72% gain on the day. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq gained 1.12%.
Coming into today, shares of the electric utility had gained 4.33% in the past month. In that same time, the Utilities sector gained 3.93%, while the S&P 500 lost 0.9%.
The upcoming earnings release of Duke Energy will be of great interest to investors. The company's upcoming EPS is projected at $1.33, signifying a 6.40% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $7.7 billion, indicating a 2.59% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $6.71 per share and a revenue of $33.66 billion, demonstrating changes of +6.34% and +4.43%, respectively, from the preceding year.
Any recent changes to analyst estimates for Duke Energy should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Duke Energy boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Duke Energy is currently trading at a Forward P/E ratio of 19.33. This expresses a premium compared to the average Forward P/E of 18.72 of its industry.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 103, this industry ranks in the top 42% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners UpWant 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
Duke Energy Corporation (DUK): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).