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Clearway Energy (CWEN) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Clearway Energy (CWEN - Free Report) closed the latest trading day at $25.58, indicating a -1.24% change from the previous session's end. This change lagged the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.06%.
The company created by NRG Energy to acquire and operate natural gas, solar and wind plants's stock has dropped by 0.61% in the past month, exceeding the Oils-Energy sector's loss of 7.84% and lagging the S&P 500's gain of 1.96%.
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. On that day, Clearway Energy is projected to report earnings of $0.66 per share, which would represent year-over-year growth of 100%. Meanwhile, our latest consensus estimate is calling for revenue of $401.35 million, down 1.15% from the prior-year quarter.
CWEN's full-year Zacks Consensus Estimates are calling for earnings of $1.01 per share and revenue of $1.41 billion. These results would represent year-over-year changes of +50.75% and +7.19%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Clearway Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Clearway Energy is holding a Zacks Rank of #2 (Buy) right now.
With respect to valuation, Clearway Energy is currently being traded at a Forward P/E ratio of 25.58. This indicates a premium in contrast to its industry's Forward P/E of 23.74.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Clearway Energy (CWEN) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Clearway Energy (CWEN - Free Report) closed the latest trading day at $25.58, indicating a -1.24% change from the previous session's end. This change lagged the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.06%.
The company created by NRG Energy to acquire and operate natural gas, solar and wind plants's stock has dropped by 0.61% in the past month, exceeding the Oils-Energy sector's loss of 7.84% and lagging the S&P 500's gain of 1.96%.
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. On that day, Clearway Energy is projected to report earnings of $0.66 per share, which would represent year-over-year growth of 100%. Meanwhile, our latest consensus estimate is calling for revenue of $401.35 million, down 1.15% from the prior-year quarter.
CWEN's full-year Zacks Consensus Estimates are calling for earnings of $1.01 per share and revenue of $1.41 billion. These results would represent year-over-year changes of +50.75% and +7.19%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Clearway Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Clearway Energy is holding a Zacks Rank of #2 (Buy) right now.
With respect to valuation, Clearway Energy is currently being traded at a Forward P/E ratio of 25.58. This indicates a premium in contrast to its industry's Forward P/E of 23.74.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.