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Clearway Energy (CWEN) Exceeds Market Returns: Some Facts to Consider
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Clearway Energy (CWEN - Free Report) ended the recent trading session at $30.24, demonstrating a +2.34% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq lost 0.02%.
Shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants have depreciated by 4.34% over the course of the past month, underperforming the Oils-Energy sector's gain of 6.18%, and the S&P 500's gain of 0.67%.
The investment community will be paying close attention to the earnings performance of Clearway Energy in its upcoming release. 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%. Alongside, our most recent consensus estimate is anticipating revenue of $493.43 million, indicating a 15.02% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.37 per share and a revenue of $1.68 billion, representing changes of -125.87% and +17.74%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Clearway Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 27.15% higher within the past month. Clearway Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 164, placing it within the bottom 34% of over 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
View the Zacks #1 Rank List
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Clearway Energy (CWEN) Exceeds Market Returns: Some Facts to Consider
Clearway Energy (CWEN - Free Report) ended the recent trading session at $30.24, demonstrating a +2.34% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq lost 0.02%.
Shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants have depreciated by 4.34% over the course of the past month, underperforming the Oils-Energy sector's gain of 6.18%, and the S&P 500's gain of 0.67%.
The investment community will be paying close attention to the earnings performance of Clearway Energy in its upcoming release. 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%. Alongside, our most recent consensus estimate is anticipating revenue of $493.43 million, indicating a 15.02% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.37 per share and a revenue of $1.68 billion, representing changes of -125.87% and +17.74%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Clearway Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 27.15% higher within the past month. Clearway Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 164, placing it within the bottom 34% of over 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.