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Clearway Energy (CWEN) Gains But Lags Market: What You Should Know
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In the latest trading session, Clearway Energy (CWEN - Free Report) closed at $33.51, marking a +1.09% move from the previous day. This move lagged the S&P 500's daily gain of 1.1%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 6.59%.
Prior to today's trading, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had gained 4.97% over the past month. This has outpaced the Oils-Energy sector's gain of 2.39% and the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from Clearway Energy as it approaches its next earnings release. In that report, analysts expect Clearway Energy to post earnings of -$0.87 per share. This would mark a year-over-year decline of 1142.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $313.21 million, down 1.51% from the year-ago period.
Any recent changes to analyst estimates for Clearway Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 8.63% higher. Clearway Energy currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Clearway Energy is currently trading at a Forward P/E ratio of 24.38. This represents a premium compared to its industry's average Forward P/E of 24.13.
Investors should also note that CWEN has a PEG ratio of 2.44 right now. 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 2.4 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 170, putting it in the bottom 33% 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.
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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Clearway Energy (CWEN) Gains But Lags Market: What You Should Know
In the latest trading session, Clearway Energy (CWEN - Free Report) closed at $33.51, marking a +1.09% move from the previous day. This move lagged the S&P 500's daily gain of 1.1%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 6.59%.
Prior to today's trading, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had gained 4.97% over the past month. This has outpaced the Oils-Energy sector's gain of 2.39% and the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from Clearway Energy as it approaches its next earnings release. In that report, analysts expect Clearway Energy to post earnings of -$0.87 per share. This would mark a year-over-year decline of 1142.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $313.21 million, down 1.51% from the year-ago period.
Any recent changes to analyst estimates for Clearway Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 8.63% higher. Clearway Energy currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Clearway Energy is currently trading at a Forward P/E ratio of 24.38. This represents a premium compared to its industry's average Forward P/E of 24.13.
Investors should also note that CWEN has a PEG ratio of 2.44 right now. 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 2.4 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 170, putting it in the bottom 33% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.