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Clearway Energy (CWEN) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Clearway Energy (CWEN - Free Report) closed at $31.81, marking a +2.12% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.56%. On the other hand, the Dow registered a gain of 1.29%, and the technology-centric Nasdaq increased by 2.21%.
The company created by NRG Energy to acquire and operate natural gas, solar and wind plants's shares have seen an increase of 8.46% over the last month, surpassing the Oils-Energy sector's loss of 2.93% and the S&P 500's gain of 0.41%.
The investment community will be closely monitoring the performance of Clearway Energy in its forthcoming earnings report. The company's upcoming EPS is projected at $0.33, signifying a 6.45% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $422.17 million, indicating a 13.13% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.64 per share and a revenue of $1.44 billion, indicating changes of -14.67% and +4.74%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Clearway Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 22.81% lower. Clearway Energy is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Clearway Energy is currently trading at a Forward P/E ratio of 48.55. This expresses a premium compared to the average Forward P/E of 20.28 of its industry.
We can also see that CWEN currently has a PEG ratio of 1.22. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. CWEN's industry had an average PEG ratio of 2.44 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 36% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Clearway Energy (CWEN) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Clearway Energy (CWEN - Free Report) closed at $31.81, marking a +2.12% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.56%. On the other hand, the Dow registered a gain of 1.29%, and the technology-centric Nasdaq increased by 2.21%.
The company created by NRG Energy to acquire and operate natural gas, solar and wind plants's shares have seen an increase of 8.46% over the last month, surpassing the Oils-Energy sector's loss of 2.93% and the S&P 500's gain of 0.41%.
The investment community will be closely monitoring the performance of Clearway Energy in its forthcoming earnings report. The company's upcoming EPS is projected at $0.33, signifying a 6.45% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $422.17 million, indicating a 13.13% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.64 per share and a revenue of $1.44 billion, indicating changes of -14.67% and +4.74%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Clearway Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 22.81% lower. Clearway Energy is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Clearway Energy is currently trading at a Forward P/E ratio of 48.55. This expresses a premium compared to the average Forward P/E of 20.28 of its industry.
We can also see that CWEN currently has a PEG ratio of 1.22. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. CWEN's industry had an average PEG ratio of 2.44 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 36% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.