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Why Clearway Energy (CWEN) Dipped More Than Broader Market Today
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Clearway Energy (CWEN - Free Report) closed the most recent trading day at $29.95, moving -1.12% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.47%. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq lost 1.25%.
Shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants have depreciated by 5.55% over the course of the past month, underperforming the Oils-Energy sector's gain of 1.58%, and the S&P 500's gain of 1.15%.
Analysts and investors alike will be keeping a close eye on the performance of Clearway Energy in its upcoming earnings disclosure. On that day, Clearway Energy is projected to report earnings of $0.34 per share, which would represent a year-over-year decline of 83%. 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 project earnings of -$0.37 per share and a revenue of $1.68 billion, demonstrating changes of -125.87% and +17.74%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Clearway Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 27.15% higher. As of now, Clearway Energy holds a Zacks Rank of #3 (Hold).
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 91, finds itself in the top 37% echelons of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
View the Zacks #1 Rank List
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Why Clearway Energy (CWEN) Dipped More Than Broader Market Today
Clearway Energy (CWEN - Free Report) closed the most recent trading day at $29.95, moving -1.12% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.47%. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq lost 1.25%.
Shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants have depreciated by 5.55% over the course of the past month, underperforming the Oils-Energy sector's gain of 1.58%, and the S&P 500's gain of 1.15%.
Analysts and investors alike will be keeping a close eye on the performance of Clearway Energy in its upcoming earnings disclosure. On that day, Clearway Energy is projected to report earnings of $0.34 per share, which would represent a year-over-year decline of 83%. 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 project earnings of -$0.37 per share and a revenue of $1.68 billion, demonstrating changes of -125.87% and +17.74%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Clearway Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 27.15% higher. As of now, Clearway Energy holds a Zacks Rank of #3 (Hold).
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 91, finds itself in the top 37% echelons of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.