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Clearway Energy (CWEN) Dips More Than Broader Markets: What You Should Know
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Clearway Energy (CWEN - Free Report) closed the most recent trading day at $33.08, moving -0.39% from the previous trading session. This move lagged the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq gained 3.16%.
Coming into today, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had lost 3.23% in the past month. In that same time, the Oils-Energy sector gained 0.95%, while the S&P 500 gained 3.6%.
Investors will be hoping for strength from Clearway Energy as it approaches its next earnings release, which is expected to be February 23, 2023. On that day, Clearway Energy is projected to report earnings of -$0.88 per share, which would represent a year-over-year decline of 1157.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $313.21 million, down 1.51% from the year-ago period.
Any recent changes to analyst estimates for Clearway Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 18.85% higher. Clearway Energy is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Clearway Energy's current valuation metrics, including its Forward P/E ratio of 22.32. This represents a discount compared to its industry's average Forward P/E of 24.35.
It is also worth noting that CWEN currently has a PEG ratio of 2.23. 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 currently had an average PEG ratio of 2.23 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% 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.
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) Dips More Than Broader Markets: What You Should Know
Clearway Energy (CWEN - Free Report) closed the most recent trading day at $33.08, moving -0.39% from the previous trading session. This move lagged the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq gained 3.16%.
Coming into today, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had lost 3.23% in the past month. In that same time, the Oils-Energy sector gained 0.95%, while the S&P 500 gained 3.6%.
Investors will be hoping for strength from Clearway Energy as it approaches its next earnings release, which is expected to be February 23, 2023. On that day, Clearway Energy is projected to report earnings of -$0.88 per share, which would represent a year-over-year decline of 1157.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $313.21 million, down 1.51% from the year-ago period.
Any recent changes to analyst estimates for Clearway Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 18.85% higher. Clearway Energy is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Clearway Energy's current valuation metrics, including its Forward P/E ratio of 22.32. This represents a discount compared to its industry's average Forward P/E of 24.35.
It is also worth noting that CWEN currently has a PEG ratio of 2.23. 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 currently had an average PEG ratio of 2.23 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.