We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Clearway Energy (CWEN) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
Clearway Energy (CWEN - Free Report) closed at $34.53 in the latest trading session, marking a +1.17% move from the prior day. This move outpaced the S&P 500's daily gain of 0.34%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 8.98%.
Prior to today's trading, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had gained 0.95% over the past month. This has lagged the Oils-Energy sector's gain of 5.07% and the S&P 500's gain of 1% in that time.
Clearway Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.87, down 1142.86% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $313.21 million, down 1.51% from the year-ago period.
It is also important to note the recent changes 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 remained stagnant. Clearway Energy is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Clearway Energy has a Forward P/E ratio of 27.26 right now. For comparison, its industry has an average Forward P/E of 25.09, which means Clearway Energy is trading at a premium to the group.
We can also see that CWEN currently has a PEG ratio of 1.55. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Alternative Energy - Other stocks are, on average, holding a PEG ratio of 1.55 based on yesterday's closing prices.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Clearway Energy (CWEN) Outpaces Stock Market Gains: What You Should Know
Clearway Energy (CWEN - Free Report) closed at $34.53 in the latest trading session, marking a +1.17% move from the prior day. This move outpaced the S&P 500's daily gain of 0.34%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 8.98%.
Prior to today's trading, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had gained 0.95% over the past month. This has lagged the Oils-Energy sector's gain of 5.07% and the S&P 500's gain of 1% in that time.
Clearway Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.87, down 1142.86% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $313.21 million, down 1.51% from the year-ago period.
It is also important to note the recent changes 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 remained stagnant. Clearway Energy is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Clearway Energy has a Forward P/E ratio of 27.26 right now. For comparison, its industry has an average Forward P/E of 25.09, which means Clearway Energy is trading at a premium to the group.
We can also see that CWEN currently has a PEG ratio of 1.55. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Alternative Energy - Other stocks are, on average, holding a PEG ratio of 1.55 based on yesterday's closing prices.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.