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) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, Clearway Energy (CWEN - Free Report) closed at $28.06, marking a -0.6% move from the previous day. This change lagged the S&P 500's daily gain of 0.45%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 1.99%.
Heading into today, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had lost 1.74% over the past month, lagging the Oils-Energy sector's gain of 2.62% and the S&P 500's gain of 4.25% in that time.
Clearway Energy will be looking to display strength as it nears its next earnings release. On that day, Clearway Energy is projected to report earnings of $0.69 per share, which would represent year-over-year growth of 117.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $398.08 million, up 8.17% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.63 per share and revenue of $1.34 billion, which would represent changes of +143.7% and +12.72%, respectively, from the prior year.
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.
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. The Zacks Consensus EPS estimate has moved 3.88% lower within the past month. Clearway Energy is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Clearway Energy is holding a Forward P/E ratio of 17.28. This valuation marks a discount compared to its industry's average Forward P/E of 19.67.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 22% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Clearway Energy (CWEN) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Clearway Energy (CWEN - Free Report) closed at $28.06, marking a -0.6% move from the previous day. This change lagged the S&P 500's daily gain of 0.45%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 1.99%.
Heading into today, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had lost 1.74% over the past month, lagging the Oils-Energy sector's gain of 2.62% and the S&P 500's gain of 4.25% in that time.
Clearway Energy will be looking to display strength as it nears its next earnings release. On that day, Clearway Energy is projected to report earnings of $0.69 per share, which would represent year-over-year growth of 117.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $398.08 million, up 8.17% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.63 per share and revenue of $1.34 billion, which would represent changes of +143.7% and +12.72%, respectively, from the prior year.
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.
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. The Zacks Consensus EPS estimate has moved 3.88% lower within the past month. Clearway Energy is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Clearway Energy is holding a Forward P/E ratio of 17.28. This valuation marks a discount compared to its industry's average Forward P/E of 19.67.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 22% 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.