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Clearway Energy (CWEN) Suffers a Larger Drop Than the General Market: Key Insights
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Clearway Energy (CWEN - Free Report) ended the recent trading session at $29.19, demonstrating a -3.09% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.03%. On the other hand, the Dow registered a loss of 0.31%, and the technology-centric Nasdaq increased by 0.01%.
Shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants witnessed a loss of 7.24% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 0.34%, and the S&P 500's gain of 0.53%.
Market participants will be closely following the financial results of Clearway Energy in its upcoming release. The company's upcoming EPS is projected at $0.34, signifying a 83.00% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $493.43 million, showing a 15.02% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.5 per share and revenue of $1.68 billion, which would represent changes of -134.97% and +17.74%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Clearway Energy. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Clearway Energy presently features a Zacks Rank of #3 (Hold).
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 105, placing it within the top 43% of over 250 industries.
The Zacks Industry Rank is ordered 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.
View the Zacks #1 Rank List
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Clearway Energy (CWEN) Suffers a Larger Drop Than the General Market: Key Insights
Clearway Energy (CWEN - Free Report) ended the recent trading session at $29.19, demonstrating a -3.09% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.03%. On the other hand, the Dow registered a loss of 0.31%, and the technology-centric Nasdaq increased by 0.01%.
Shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants witnessed a loss of 7.24% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 0.34%, and the S&P 500's gain of 0.53%.
Market participants will be closely following the financial results of Clearway Energy in its upcoming release. The company's upcoming EPS is projected at $0.34, signifying a 83.00% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $493.43 million, showing a 15.02% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.5 per share and revenue of $1.68 billion, which would represent changes of -134.97% and +17.74%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Clearway Energy. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Clearway Energy presently features a Zacks Rank of #3 (Hold).
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 105, placing it within the top 43% of over 250 industries.
The Zacks Industry Rank is ordered 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.