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Clearway Energy (CWEN) Gains But Lags Market: What You Should Know
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Clearway Energy (CWEN - Free Report) closed the most recent trading day at $33.81, moving +0.06% from the previous trading session. This move lagged the S&P 500's daily gain of 1.05%. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq added 9.7%.
Coming into today, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had gained 5.49% in the past month. In that same time, the Oils-Energy sector gained 3.04%, while the S&P 500 gained 6.27%.
Investors will be hoping for strength from Clearway Energy as it approaches its next earnings release. The company is expected to report EPS of -$0.88, down 1157.14% 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.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 18.85% higher. Clearway Energy currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Clearway Energy is currently trading at a Forward P/E ratio of 22.71. Its industry sports an average Forward P/E of 25.17, so we one might conclude that Clearway Energy is trading at a discount comparatively.
Meanwhile, CWEN's PEG ratio is currently 2.27. 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. CWEN's industry had an average PEG ratio of 2.27 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 179, putting 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) Gains But Lags Market: What You Should Know
Clearway Energy (CWEN - Free Report) closed the most recent trading day at $33.81, moving +0.06% from the previous trading session. This move lagged the S&P 500's daily gain of 1.05%. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq added 9.7%.
Coming into today, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had gained 5.49% in the past month. In that same time, the Oils-Energy sector gained 3.04%, while the S&P 500 gained 6.27%.
Investors will be hoping for strength from Clearway Energy as it approaches its next earnings release. The company is expected to report EPS of -$0.88, down 1157.14% 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.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 18.85% higher. Clearway Energy currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Clearway Energy is currently trading at a Forward P/E ratio of 22.71. Its industry sports an average Forward P/E of 25.17, so we one might conclude that Clearway Energy is trading at a discount comparatively.
Meanwhile, CWEN's PEG ratio is currently 2.27. 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. CWEN's industry had an average PEG ratio of 2.27 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 179, putting 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.