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Clearway Energy (CWEN) Declines More Than Market: Some Information for Investors
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Clearway Energy (CWEN - Free Report) closed at $25.34 in the latest trading session, marking a -1.63% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 1.39%. Meanwhile, the Dow gained 0.6%, and the Nasdaq, a tech-heavy index, lost 2.77%.
The the stock of company created by NRG Energy to acquire and operate natural gas, solar and wind plants has fallen by 0.69% in the past month, leading the Oils-Energy sector's loss of 7.9% and undershooting the S&P 500's gain of 4.43%.
Analysts and investors alike will be keeping a close eye on the performance of Clearway Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on August 1, 2024. The company is forecasted to report an EPS of $0.66, showcasing a 100% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $401.35 million, indicating a 1.15% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.01 per share and a revenue of $1.41 billion, representing changes of +50.75% and +7.19%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Clearway Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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. Clearway Energy is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Clearway Energy is currently exchanging hands at a Forward P/E ratio of 25.44. This expresses a premium compared to the average Forward P/E of 24.31 of its industry.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 150, finds itself in the bottom 41% echelons 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Clearway Energy (CWEN) Declines More Than Market: Some Information for Investors
Clearway Energy (CWEN - Free Report) closed at $25.34 in the latest trading session, marking a -1.63% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 1.39%. Meanwhile, the Dow gained 0.6%, and the Nasdaq, a tech-heavy index, lost 2.77%.
The the stock of company created by NRG Energy to acquire and operate natural gas, solar and wind plants has fallen by 0.69% in the past month, leading the Oils-Energy sector's loss of 7.9% and undershooting the S&P 500's gain of 4.43%.
Analysts and investors alike will be keeping a close eye on the performance of Clearway Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on August 1, 2024. The company is forecasted to report an EPS of $0.66, showcasing a 100% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $401.35 million, indicating a 1.15% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.01 per share and a revenue of $1.41 billion, representing changes of +50.75% and +7.19%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Clearway Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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. Clearway Energy is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Clearway Energy is currently exchanging hands at a Forward P/E ratio of 25.44. This expresses a premium compared to the average Forward P/E of 24.31 of its industry.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 150, finds itself in the bottom 41% echelons 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.