Clearway Energy (CWEN) ended the recent trading session at $32.07, demonstrating a -3.14% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.48%. Elsewhere, the Dow saw a downswing of 0.77%, while the tech-heavy Nasdaq depreciated by 0.64%.
Shares of the company created by NRG Energy to acquire and operate natural gas, solar and wind plants witnessed a loss of 4.03% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 8.39%, and the S&P 500's loss of 0.97%.
The upcoming earnings release of Clearway Energy will be of great interest to investors. The company is predicted to post an EPS of $0.34, indicating a 83% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $493.43 million, up 15.02% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.5 per share and a revenue of $1.68 billion, representing changes of -134.97% and +17.74%, respectively, from the prior year.
Any recent changes to analyst estimates for Clearway Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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, there's been a 25.24% rise in the Zacks Consensus EPS estimate. Clearway Energy presently features a Zacks Rank of #3 (Hold).
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 102, placing it within the top 42% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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