Wall Street analysts expect Clearway Energy (CWEN) to post quarterly loss of $0.25 per share in its upcoming report, which indicates a year-over-year decline of 1150%. Revenues are expected to be $310.81 million, up 18.2% from the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Clearway Energy metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts predict that the 'Revenues- Renewables' will reach $277.83 million. The estimate indicates a change of +65.4% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenues- Conventional Generation' of $83.82 million. The estimate indicates a year-over-year change of -11.8%.
Analysts expect 'Adjusted EBITDA- Renewable' to come in at $199.00 million. The estimate is in contrast to the year-ago figure of $169 million.
The consensus among analysts is that 'Adjusted EBITDA- Conventional' will reach $55.78 million. The estimate is in contrast to the year-ago figure of $51 million.
View all Key Company Metrics for Clearway Energy here>>>
Over the past month, shares of Clearway Energy have returned -4% versus the Zacks S&P 500 composite's -4.3% change. Currently, CWEN carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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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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