Clearway Energy (CWEN) closed the most recent trading day at $35.18, moving -4.56% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.18% for the day. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 2.07%.
The stock of company created by NRG Energy to acquire and operate natural gas, solar and wind plants has fallen by 10.45% in the past month, lagging the Oils-Energy sector's loss of 7.93% and the S&P 500's loss of 2.9%.
The upcoming earnings release of Clearway Energy will be of great interest to investors. On that day, Clearway Energy is projected to report earnings of $0.36 per share, which would represent year-over-year growth of 28.57%. Simultaneously, our latest consensus estimate expects the revenue to be $489.58 million, showing a 24.89% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.87 per share and a revenue of $1.73 billion, signifying shifts of -160.84% and +21.36%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Clearway Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.77% fall in the Zacks Consensus EPS estimate. As of now, Clearway Energy holds a Zacks Rank of #4 (Sell).
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 110, which puts it in the top 46% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Clearway Energy, Inc. (CWEN): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).