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Clearway Energy (CWEN) Outperforms Broader Market: What You Need to Know
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In the latest trading session, Clearway Energy (CWEN - Free Report) closed at $40.14, marking a +1.44% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.18%. Elsewhere, the Dow gained 0.66%, while the tech-heavy Nasdaq added 1.96%.
The company created by NRG Energy to acquire and operate natural gas, solar and wind plants's stock has climbed by 0.15% in the past month, falling short of the Oils-Energy sector's gain of 2.34% and the S&P 500's gain of 3.93%.
Investors will be eagerly watching for the performance of Clearway Energy in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.29, reflecting a 1066.67% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $320.2 million, reflecting a 7.45% rise from the equivalent quarter last year.
CWEN's full-year Zacks Consensus Estimates are calling for earnings of $0.67 per share and revenue of $1.62 billion. These results would represent year-over-year changes of -53.15% and +13.02%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Clearway Energy. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.36% decrease. As of now, Clearway Energy holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Clearway Energy is currently exchanging hands at a Forward P/E ratio of 59.41. This valuation marks a premium compared to its industry average Forward P/E of 18.87.
One should further note that CWEN currently holds a PEG ratio of 2.81. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Alternative Energy - Other industry held an average PEG ratio of 2.24.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 94, placing it within the top 39% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Clearway Energy (CWEN) Outperforms Broader Market: What You Need to Know
In the latest trading session, Clearway Energy (CWEN - Free Report) closed at $40.14, marking a +1.44% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.18%. Elsewhere, the Dow gained 0.66%, while the tech-heavy Nasdaq added 1.96%.
The company created by NRG Energy to acquire and operate natural gas, solar and wind plants's stock has climbed by 0.15% in the past month, falling short of the Oils-Energy sector's gain of 2.34% and the S&P 500's gain of 3.93%.
Investors will be eagerly watching for the performance of Clearway Energy in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.29, reflecting a 1066.67% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $320.2 million, reflecting a 7.45% rise from the equivalent quarter last year.
CWEN's full-year Zacks Consensus Estimates are calling for earnings of $0.67 per share and revenue of $1.62 billion. These results would represent year-over-year changes of -53.15% and +13.02%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Clearway Energy. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.36% decrease. As of now, Clearway Energy holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Clearway Energy is currently exchanging hands at a Forward P/E ratio of 59.41. This valuation marks a premium compared to its industry average Forward P/E of 18.87.
One should further note that CWEN currently holds a PEG ratio of 2.81. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Alternative Energy - Other industry held an average PEG ratio of 2.24.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 94, placing it within the top 39% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.