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Why Clearway Energy (CWEN) Outpaced the Stock Market Today
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In the latest trading session, Clearway Energy (CWEN - Free Report) closed at $31.97, marking a +1.3% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.48%. At the same time, the Dow lost 0.02%, and the tech-heavy Nasdaq gained 0.94%.
The stock of company created by NRG Energy to acquire and operate natural gas, solar and wind plants has risen by 2.33% in the past month, lagging the Oils-Energy sector's gain of 4.97% and the S&P 500's gain of 5.13%.
Investors will be eagerly watching for the performance of Clearway Energy in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.7, signifying a 62.79% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $445.36 million, indicating a 21.68% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.1 per share and revenue of $1.5 billion. These totals would mark changes of +46.67% and +9.61%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Clearway Energy. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Clearway Energy possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Clearway Energy currently has a Forward P/E ratio of 28.74. This signifies a premium in comparison to the average Forward P/E of 19.63 for its industry.
Meanwhile, CWEN's PEG ratio is currently 0.75. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. CWEN's industry had an average PEG ratio of 2.15 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 154, this industry ranks in the bottom 38% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Why Clearway Energy (CWEN) Outpaced the Stock Market Today
In the latest trading session, Clearway Energy (CWEN - Free Report) closed at $31.97, marking a +1.3% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.48%. At the same time, the Dow lost 0.02%, and the tech-heavy Nasdaq gained 0.94%.
The stock of company created by NRG Energy to acquire and operate natural gas, solar and wind plants has risen by 2.33% in the past month, lagging the Oils-Energy sector's gain of 4.97% and the S&P 500's gain of 5.13%.
Investors will be eagerly watching for the performance of Clearway Energy in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.7, signifying a 62.79% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $445.36 million, indicating a 21.68% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.1 per share and revenue of $1.5 billion. These totals would mark changes of +46.67% and +9.61%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Clearway Energy. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Clearway Energy possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Clearway Energy currently has a Forward P/E ratio of 28.74. This signifies a premium in comparison to the average Forward P/E of 19.63 for its industry.
Meanwhile, CWEN's PEG ratio is currently 0.75. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. CWEN's industry had an average PEG ratio of 2.15 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 154, this industry ranks in the bottom 38% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.