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) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
Clearway Energy (CWEN - Free Report) closed at $29.93 in the latest trading session, marking a +0.03% move from the prior day. This move lagged the S&P 500's daily gain of 0.69%. Meanwhile, the Dow gained 0.43%, and the Nasdaq, a tech-heavy index, lost 8.94%.
Heading into today, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had lost 5.35% over the past month, lagging the Oils-Energy sector's gain of 2.52% and the S&P 500's gain of 5.41% in that time.
Clearway Energy will be looking to display strength as it nears its next earnings release. In that report, analysts expect Clearway Energy to post earnings of $0.76 per share. This would mark year-over-year growth of 119.69%. Meanwhile, our latest consensus estimate is calling for revenue of $398.08 million, up 8.17% from the prior-year quarter.
CWEN's full-year Zacks Consensus Estimates are calling for earnings of $1.78 per share and revenue of $1.4 billion. These results would represent year-over-year changes of +147.72% and +17.78%, respectively.
Investors might also notice recent changes to analyst estimates for Clearway Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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 4.26% lower. Clearway Energy is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Clearway Energy has a Forward P/E ratio of 16.86 right now. This valuation marks a discount compared to its industry's average Forward P/E of 19.88.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 183, which puts it in the bottom 28% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Clearway Energy (CWEN) Gains But Lags Market: What You Should Know
Clearway Energy (CWEN - Free Report) closed at $29.93 in the latest trading session, marking a +0.03% move from the prior day. This move lagged the S&P 500's daily gain of 0.69%. Meanwhile, the Dow gained 0.43%, and the Nasdaq, a tech-heavy index, lost 8.94%.
Heading into today, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had lost 5.35% over the past month, lagging the Oils-Energy sector's gain of 2.52% and the S&P 500's gain of 5.41% in that time.
Clearway Energy will be looking to display strength as it nears its next earnings release. In that report, analysts expect Clearway Energy to post earnings of $0.76 per share. This would mark year-over-year growth of 119.69%. Meanwhile, our latest consensus estimate is calling for revenue of $398.08 million, up 8.17% from the prior-year quarter.
CWEN's full-year Zacks Consensus Estimates are calling for earnings of $1.78 per share and revenue of $1.4 billion. These results would represent year-over-year changes of +147.72% and +17.78%, respectively.
Investors might also notice recent changes to analyst estimates for Clearway Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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 4.26% lower. Clearway Energy is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Clearway Energy has a Forward P/E ratio of 16.86 right now. This valuation marks a discount compared to its industry's average Forward P/E of 19.88.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 183, which puts it in the bottom 28% 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.