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Duke Energy (DUK) Stock Moves -0.41%: What You Should Know

Duke Energy (DUK) ended the recent trading session at $94.90, demonstrating a -0.41% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 1.46%. On the other hand, the Dow registered a loss of 1.24%, and the technology-centric Nasdaq decreased by 1.63%.

The the stock of electric utility has risen by 0.25% in the past month, leading the Utilities sector's loss of 7.52% and undershooting the S&P 500's gain of 1.6%.

Investors will be eagerly watching for the performance of Duke Energy in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 7, 2024. The company is forecasted to report an EPS of $1.39, showcasing a 15.83% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $7.88 billion, up 8.29% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.99 per share and revenue of $30.36 billion, indicating changes of +7.73% and +4.48%, respectively, compared to the previous year.

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Investors might also notice recent changes to analyst estimates for Duke Energy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

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. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. As of now, Duke Energy holds a Zacks Rank of #3 (Hold).

In terms of valuation, Duke Energy is currently trading at a Forward P/E ratio of 15.92. This represents a premium compared to its industry's average Forward P/E of 14.75.

It is also worth noting that DUK currently has a PEG ratio of 2.54. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Utility - Electric Power was holding an average PEG ratio of 2.56 at yesterday's closing price.

The Utility - Electric Power industry is part of the Utilities sector. At present, this industry carries a Zacks Industry Rank of 168, placing it within the bottom 34% of over 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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Duke Energy Corporation (DUK) : Free Stock Analysis Report

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