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Clearway Energy (CWEN) Beats Stock Market Upswing: What Investors Need to Know
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Clearway Energy (CWEN - Free Report) closed the most recent trading day at $29.36, moving +0.1% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.03%. Elsewhere, the Dow saw a downswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.2%.
Shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants witnessed a gain of 0.51% over the previous month, beating the performance of the Oils-Energy sector with its loss of 3.35% and underperforming the S&P 500's gain of 1.54%.
Analysts and investors alike will be keeping a close eye on the performance of Clearway Energy in its upcoming earnings disclosure. On that day, Clearway Energy is projected to report earnings of $0.50 per share, which would represent year-over-year growth of 1566.67%. Alongside, our most recent consensus estimate is anticipating revenue of $457.06 million, indicating a 23.2% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.90 per share and revenue of $1.45 billion, which would represent changes of +34.33% and +10.1%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Clearway Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Clearway Energy possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Clearway Energy is currently being traded at a Forward P/E ratio of 32.5. Its industry sports an average Forward P/E of 18.45, so one might conclude that Clearway Energy is trading at a premium comparatively.
It is also worth noting that CWEN currently has a PEG ratio of 2.32. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Alternative Energy - Other industry had an average PEG ratio of 2.32 as trading concluded yesterday.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 180, finds itself in the bottom 29% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Beats Stock Market Upswing: What Investors Need to Know
Clearway Energy (CWEN - Free Report) closed the most recent trading day at $29.36, moving +0.1% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.03%. Elsewhere, the Dow saw a downswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.2%.
Shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants witnessed a gain of 0.51% over the previous month, beating the performance of the Oils-Energy sector with its loss of 3.35% and underperforming the S&P 500's gain of 1.54%.
Analysts and investors alike will be keeping a close eye on the performance of Clearway Energy in its upcoming earnings disclosure. On that day, Clearway Energy is projected to report earnings of $0.50 per share, which would represent year-over-year growth of 1566.67%. Alongside, our most recent consensus estimate is anticipating revenue of $457.06 million, indicating a 23.2% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.90 per share and revenue of $1.45 billion, which would represent changes of +34.33% and +10.1%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Clearway Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Clearway Energy possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Clearway Energy is currently being traded at a Forward P/E ratio of 32.5. Its industry sports an average Forward P/E of 18.45, so one might conclude that Clearway Energy is trading at a premium comparatively.
It is also worth noting that CWEN currently has a PEG ratio of 2.32. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Alternative Energy - Other industry had an average PEG ratio of 2.32 as trading concluded yesterday.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 180, finds itself in the bottom 29% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.