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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 at $31.33 in the latest trading session, marking a +1.29% move from the prior day. The stock lagged the S&P 500's daily gain of 1.44%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 5.21%.
Heading into today, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had lost 0.19% over the past month, outpacing the Oils-Energy sector's loss of 2.11% and lagging the S&P 500's gain of 2.28% in that time.
Wall Street will be looking for positivity from Clearway Energy as it approaches its next earnings report date. On that day, Clearway Energy is projected to report earnings of -$0.12 per share, which would represent year-over-year growth of 57.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $246.62 million, up 15.24% from the year-ago period.
CWEN's full-year Zacks Consensus Estimates are calling for earnings of $1.95 per share and revenue of $1.34 billion. These results would represent year-over-year changes of +152.28% and +12.77%, respectively.
Investors should also note any recent changes to analyst estimates for Clearway Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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, 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 has moved 23.57% higher. Clearway Energy is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, Clearway Energy is currently trading at a Forward P/E ratio of 15.86. For comparison, its industry has an average Forward P/E of 19.02, which means Clearway Energy is trading at a discount to the group.
It is also worth noting that CWEN currently has a PEG ratio of 1.59. 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. The Alternative Energy - Other was holding an average PEG ratio of 1.42 at yesterday's closing price.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow CWEN in the coming trading sessions, be sure to utilize Zacks.com.
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Clearway Energy (CWEN) Gains But Lags Market: What You Should Know
Clearway Energy (CWEN - Free Report) closed at $31.33 in the latest trading session, marking a +1.29% move from the prior day. The stock lagged the S&P 500's daily gain of 1.44%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 5.21%.
Heading into today, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had lost 0.19% over the past month, outpacing the Oils-Energy sector's loss of 2.11% and lagging the S&P 500's gain of 2.28% in that time.
Wall Street will be looking for positivity from Clearway Energy as it approaches its next earnings report date. On that day, Clearway Energy is projected to report earnings of -$0.12 per share, which would represent year-over-year growth of 57.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $246.62 million, up 15.24% from the year-ago period.
CWEN's full-year Zacks Consensus Estimates are calling for earnings of $1.95 per share and revenue of $1.34 billion. These results would represent year-over-year changes of +152.28% and +12.77%, respectively.
Investors should also note any recent changes to analyst estimates for Clearway Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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, 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 has moved 23.57% higher. Clearway Energy is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, Clearway Energy is currently trading at a Forward P/E ratio of 15.86. For comparison, its industry has an average Forward P/E of 19.02, which means Clearway Energy is trading at a discount to the group.
It is also worth noting that CWEN currently has a PEG ratio of 1.59. 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. The Alternative Energy - Other was holding an average PEG ratio of 1.42 at yesterday's closing price.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow CWEN in the coming trading sessions, be sure to utilize Zacks.com.