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Clearway Energy (CWEN) Stock Sinks As Market Gains: What You Should Know
Clearway Energy (CWEN - Free Report) closed the most recent trading day at $33.26, moving -1.1% from the previous trading session. This move lagged the S&P 500's daily gain of 1.89%. Meanwhile, the Dow gained 1%, and the Nasdaq, a tech-heavy index, added 10%.
Heading into today, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had gained 5.16% over the past month, lagging the Oils-Energy sector's gain of 5.98% and outpacing the S&P 500's gain of 2.3% in that time.
Investors will be hoping for strength from Clearway Energy as it approaches its next earnings release. In that report, analysts expect Clearway Energy to post earnings of -$0.87 per share. This would mark a year-over-year decline of 1142.86%. 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 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Clearway Energy is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Clearway Energy is holding a Forward P/E ratio of 26.86. For comparison, its industry has an average Forward P/E of 24.69, which means Clearway Energy is trading at a premium to the group.
Meanwhile, CWEN's PEG ratio is currently 1.53. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CWEN's industry had an average PEG ratio of 1.53 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 194, which puts it in the bottom 24% 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.