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In the latest market close, Duke Energy (DUK) reached $108.23, with a +1.33% movement compared to the previous day. The stock outpaced the S&P 500's daily gain of 0.16%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq lost 0.06%.
Heading into today, shares of the electric utility had lost 3.87% over the past month, outpacing the Utilities sector's loss of 6.81% and lagging the S&P 500's loss of 2.8% in that time.
The investment community will be paying close attention to the earnings performance of Duke Energy in its upcoming release. The company's upcoming EPS is projected at $1.64, signifying an 8.61% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $7.73 billion, up 7.23% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for Duke Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Duke Energy is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Duke Energy is currently being traded at a Forward P/E ratio of 16.84. This denotes a premium relative to the industry's average Forward P/E of 15.97.
Meanwhile, DUK's PEG ratio is currently 2.66. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. DUK's industry had an average PEG ratio of 2.49 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 91, this industry ranks in the top 37% of all industries, numbering over 250.
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.