Yahoo Finance Clearway Energy (CWEN) Stock Slides as Market Rises: Facts to Know Before You Trade
Clearway Energy (CWEN) closed the latest trading day at $30.02, indicating a -1.48% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 0.4%. On the other hand, the Dow registered a gain of 0.62%, and the technology-centric Nasdaq increased by 0.6%.
Prior to today's trading, shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants had gained 6.13% over the past month. This has outpaced the Oils-Energy sector's loss of 1.57% and the S&P 500's gain of 1.71% in that time.
The investment community will be paying close attention to the earnings performance of Clearway Energy in its upcoming release. The company is expected to report EPS of $0.48, up 1500% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $441.84 million, reflecting a 19.09% rise from the equivalent quarter last year.
CWEN's full-year Zacks Consensus Estimates are calling for earnings of $0.85 per share and revenue of $1.4 billion. These results would represent year-over-year changes of +26.87% and +6.53%, respectively.
Investors might also notice recent changes to analyst estimates for Clearway Energy. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 moved 6.04% lower. Clearway Energy presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Clearway Energy is presently being traded at a Forward P/E ratio of 35.93. This expresses a premium compared to the average Forward P/E of 21.29 of its industry.
We can also see that CWEN currently has a PEG ratio of 2.57. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Alternative Energy - Other was holding an average PEG ratio of 2.83 at yesterday's closing price.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 203, placing it within the bottom 20% 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.
To follow CWEN in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Clearway Energy, Inc. (CWEN) : Free Stock Analysis Report
