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The most recent trading session ended with Dominion Energy (D) standing at $57.93, reflecting a +0.78% shift from the previouse trading day’s closing. The stock’s performance was ahead of the S&P 500’s daily loss of 0.19%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, lost 0.36%.
The energy company’s shares have seen an increase of 1.84% over the last month, not keeping up with the Utilities sector’s gain of 3.59% and the S&P 500’s gain of 2.06%.
The investment community will be closely monitoring the performance of Dominion Energy in its forthcoming earnings report. The company is expected to report EPS of $0.94, up 22.08% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $4.12 billion, indicating an 8.23% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $2.75 per share and a revenue of $15.63 billion, demonstrating changes of +38.19% and -4.66%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Dominion Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts’ favorable outlook on the company’s business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Dominion Energy is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Dominion Energy is holding a Forward P/E ratio of 20.89. This indicates a premium in contrast to its industry’s Forward P/E of 17.55.
One should further note that D currently holds a PEG ratio of 1.54. 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 industry currently had an average PEG ratio of 2.75 as of yesterday’s close.
The Utility – Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 35, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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