Clearway Energy (CWEN) closed the most recent trading day at $29.61, moving -2.69% from the previous trading session. This change lagged the S&P 500's 1.11% loss on the day. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, lost 1.88%.
The company created by NRG Energy to acquire and operate natural gas, solar and wind plants's shares have seen an increase of 1.67% over the last month, not keeping up with the Oils-Energy sector's gain of 4.62% and the S&P 500's gain of 2.06%.
The investment community will be paying close attention to the earnings performance of Clearway Energy in its upcoming release. The company is predicted to post an EPS of $0.34, indicating a 83% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $493.43 million, indicating a 15.02% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.37 per share and revenue of $1.68 billion, which would represent changes of -125.87% and +17.74%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Clearway Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 27.15% higher within the past month. Right now, Clearway Energy possesses a Zacks Rank of #3 (Hold).
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 40% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Clearway Energy, Inc. (CWEN): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).