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Clearway Energy (CWEN) Increases Despite Market Slip: Here's What You Need to Know

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Clearway Energy (CWEN - Free Report) closed the most recent trading day at $26.98, moving +0.52% from the previous trading session. This change outpaced the S&P 500's 0.92% loss on the day. Elsewhere, the Dow saw a downswing of 0.96%, while the tech-heavy Nasdaq depreciated by 1.6%.

The company created by NRG Energy to acquire and operate natural gas, solar and wind plants's stock has dropped by 10.41% in the past month, falling short of the Oils-Energy sector's loss of 9.71% and the S&P 500's gain of 2.68%.

The upcoming earnings release of Clearway Energy will be of great interest to investors. The company's earnings report is expected on October 30, 2024. The company is forecasted to report an EPS of $0.48, showcasing a 1500% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $441.84 million, up 19.09% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.85 per share and a revenue of $1.4 billion, signifying shifts of +26.87% and +6.53%, respectively, from the last year.

Investors should also note any recent changes to analyst estimates for Clearway Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Clearway Energy is holding a Zacks Rank of #3 (Hold) right now.

Valuation is also important, so investors should note that Clearway Energy has a Forward P/E ratio of 31.65 right now. This signifies a premium in comparison to the average Forward P/E of 23.73 for its industry.

We can additionally observe that CWEN currently boasts a PEG ratio of 2.26. 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. CWEN's industry had an average PEG ratio of 2.61 as of yesterday's close.

The Alternative Energy - Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 202, positioning it in the bottom 20% 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.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.


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