Clearway Energy (CWEN) Ascends While Market Falls: Some Facts to Note

In the latest market close, Clearway Energy (CWEN) reached $27.05, with a +1.24% movement compared to the previous day. This change outpaced the S&P 500's 0.43% loss on the day. On the other hand, the Dow registered a loss of 1.01%, and the technology-centric Nasdaq decreased by 0.47%.The the stock of company created by NRG Energy to acquire and operate natural gas, solar and wind plants has risen by 8.49% in the past month, leading the Oils-Energy sector's loss of 3.14% and the S&P 500's gain of 2.6%.The upcoming earnings release of Clearway Energy will be of great interest to investors. The company's earnings report is expected on February 24, 2025. The company is forecasted to report an EPS of $0.13, showcasing a 59.38% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $308.01 million, indicating a 23.7% increase compared to the same quarter of the previous year.It is also important to note the recent changes to analyst estimates for Clearway Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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, the Zacks Consensus EPS estimate has shifted 2.09% upward. Clearway Energy is currently a Zacks Rank #2 (Buy).Valuation is also important, so investors should note that Clearway Energy has a Forward P/E ratio of 46.88 right now. For comparison, its industry has an average Forward P/E of 20.04, which means Clearway Energy is trading at a premium to the group.One should further note that CWEN currently holds a PEG ratio of 1.73. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Alternative Energy - Other industry stood at 2.53 at the close of the market yesterday.The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% of all 250+ industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Clearway Energy, Inc. (CWEN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks