Clearway Energy (CWEN) ended the recent trading session at $37.39, demonstrating a -1.01% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.57%. On the other hand, the Dow registered a loss of 1.61%, and the technology-centric Nasdaq decreased by 0.26%.
The company created by NRG Energy to acquire and operate natural gas, solar and wind plants's shares have seen an increase of 1.15% over the last month, not keeping up with the Oils-Energy sector's gain of 7.17% and outstripping the S&P 500's loss of 0.15%.
The investment community will be closely monitoring the performance of Clearway Energy in its forthcoming earnings report. The company's upcoming EPS is projected at -$0.41, signifying a 1,466.67% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $322.42 million, indicating a 8.19% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.67 per share and a revenue of $1.63 billion, representing changes of -53.15% and +13.81%, 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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 5.38% decrease. As of now, Clearway Energy holds a Zacks Rank of #3 (Hold).
In terms of valuation, Clearway Energy is currently trading at a Forward P/E ratio of 56.51. For comparison, its industry has an average Forward P/E of 18.47, which means Clearway Energy is trading at a premium to the group.
Investors should also note that CWEN has a PEG ratio of 1.64 right now. 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. CWEN's industry had an average PEG ratio of 1.97 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 151, finds itself in the bottom 39% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Clearway Energy, Inc. (CWEN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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