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    Duke Energy (DUK) Gains But Lags Market: What You Should Know


    July 22, 2022 - Zacks Equity Research

     

      In the latest trading session, Duke Energy (DUK) closed at $103.54, marking a +0.53% move from the previous day. This move lagged the S&P 500's daily gain of 0.99%. At the same time, the Dow added 0.51%, and the tech-heavy Nasdaq lost 0.31%.

      Heading into today, shares of the electric utility had gained 2.83% over the past month, outpacing the Utilities sector's loss of 0.06% and lagging the S&P 500's gain of 7.91% in that time.

      Duke Energy will be looking to display strength as it nears its next earnings release, which is expected to be August 4, 2022. On that day, Duke Energy is projected to report earnings of $1.12 per share, which would represent a year-over-year decline of 2.61%. Meanwhile, our latest consensus estimate is calling for revenue of $6 billion, up 4.24% from the prior-year quarter.

      DUK's full-year Zacks Consensus Estimates are calling for earnings of $5.46 per share and revenue of $26.7 billion. These results would represent year-over-year changes of +4.2% and +6.38%, respectively.

      It is also important to note the recent changes to analyst estimates for Duke Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

      Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.15% lower. Duke Energy is holding a Zacks Rank of #3 (Hold) right now.

      In terms of valuation, Duke Energy is currently trading at a Forward P/E ratio of 18.87. This represents a premium compared to its industry's average Forward P/E of 18.33.

      Also, we should mention that DUK has a PEG ratio of 3.14. 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. DUK's industry had an average PEG ratio of 3.19 as of yesterday's close.

      The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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.

      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

      To read this article on Zacks.com click here.

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