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Clearway Energy (CWEN) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Clearway Energy (CWEN - Free Report) closed at $28.56, marking a -1.59% move from the previous day. This change lagged the S&P 500's 0.77% loss on the day. Elsewhere, the Dow lost 0.65%, while the tech-heavy Nasdaq lost 2.23%.
Heading into today, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had lost 0.92% over the past month, lagging the Oils-Energy sector's gain of 0.78% and the S&P 500's gain of 4.66% in that time.
Wall Street will be looking for positivity from Clearway Energy as it approaches its next earnings report date. The company is expected to report EPS of $0.76, up 119.69% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $398.08 million, up 8.17% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.78 per share and revenue of $1.4 billion. These totals would mark changes of +147.72% and +17.78%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Clearway Energy. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 4.41% higher. Clearway Energy is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Clearway Energy's current valuation metrics, including its Forward P/E ratio of 16.35. This represents a discount compared to its industry's average Forward P/E of 19.38.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 188, putting it in the bottom 26% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Clearway Energy (CWEN) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Clearway Energy (CWEN - Free Report) closed at $28.56, marking a -1.59% move from the previous day. This change lagged the S&P 500's 0.77% loss on the day. Elsewhere, the Dow lost 0.65%, while the tech-heavy Nasdaq lost 2.23%.
Heading into today, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had lost 0.92% over the past month, lagging the Oils-Energy sector's gain of 0.78% and the S&P 500's gain of 4.66% in that time.
Wall Street will be looking for positivity from Clearway Energy as it approaches its next earnings report date. The company is expected to report EPS of $0.76, up 119.69% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $398.08 million, up 8.17% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.78 per share and revenue of $1.4 billion. These totals would mark changes of +147.72% and +17.78%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Clearway Energy. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 4.41% higher. Clearway Energy is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Clearway Energy's current valuation metrics, including its Forward P/E ratio of 16.35. This represents a discount compared to its industry's average Forward P/E of 19.38.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 188, putting it in the bottom 26% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.