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Clearway Energy (CWEN) Gains As Market Dips: What You Should Know
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In the latest trading session, Clearway Energy (CWEN - Free Report) closed at $32.03, marking a +0.5% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.4%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 4.72%.
Prior to today's trading, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had lost 6.7% over the past month. This has lagged the Oils-Energy sector's loss of 3.17% and the S&P 500's loss of 5.57% in that time.
Investors will be hoping for strength from Clearway Energy as it approaches its next earnings release. On that day, Clearway Energy is projected to report earnings of -$0.87 per share, which would represent a year-over-year decline of 1142.86%. Meanwhile, our latest consensus estimate is calling for revenue of $313.21 million, down 1.51% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Clearway Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Clearway Energy is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Clearway Energy is currently trading at a Forward P/E ratio of 14.46. Its industry sports an average Forward P/E of 29.58, so we one might conclude that Clearway Energy is trading at a discount comparatively.
Meanwhile, CWEN's PEG ratio is currently 0.82. 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. Alternative Energy - Other stocks are, on average, holding a PEG ratio of 1.19 based on yesterday's closing prices.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Clearway Energy (CWEN) Gains As Market Dips: What You Should Know
In the latest trading session, Clearway Energy (CWEN - Free Report) closed at $32.03, marking a +0.5% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.4%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 4.72%.
Prior to today's trading, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had lost 6.7% over the past month. This has lagged the Oils-Energy sector's loss of 3.17% and the S&P 500's loss of 5.57% in that time.
Investors will be hoping for strength from Clearway Energy as it approaches its next earnings release. On that day, Clearway Energy is projected to report earnings of -$0.87 per share, which would represent a year-over-year decline of 1142.86%. Meanwhile, our latest consensus estimate is calling for revenue of $313.21 million, down 1.51% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Clearway Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Clearway Energy is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Clearway Energy is currently trading at a Forward P/E ratio of 14.46. Its industry sports an average Forward P/E of 29.58, so we one might conclude that Clearway Energy is trading at a discount comparatively.
Meanwhile, CWEN's PEG ratio is currently 0.82. 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. Alternative Energy - Other stocks are, on average, holding a PEG ratio of 1.19 based on yesterday's closing prices.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.