Clearway Energy (NYSE:CWEN) Releases Earnings Results, Misses Estimates By $0.17 EPS

by · The Markets Daily

Clearway Energy (NYSE:CWEN – Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17), Briefing.com reports. The firm had revenue of $486.00 million during the quarter, compared to analyst estimates of $417.55 million. Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. Clearway Energy’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 earnings per share.

Clearway Energy Trading Up 2.2 %

Shares of NYSE CWEN traded up $0.61 during midday trading on Thursday, hitting $28.38. The stock had a trading volume of 1,428,144 shares, compared to its average volume of 859,235. The company’s 50-day simple moving average is $28.44 and its 200 day simple moving average is $26.87. Clearway Energy has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. The firm has a market cap of $5.74 billion, a P/E ratio of 43.23, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.46 and a quick ratio of 1.37.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.424 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.70 dividend on an annualized basis and a yield of 5.98%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio is currently 251.52%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CWEN. CIBC raised their price target on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group began coverage on shares of Clearway Energy in a research note on Friday, September 20th. They set a “buy” rating and a $35.00 target price for the company. BNP Paribas initiated coverage on Clearway Energy in a research note on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price target on the stock. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $25.00 to $36.00 in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Clearway Energy presently has an average rating of “Moderate Buy” and a consensus price target of $33.13.

Get Our Latest Stock Report on CWEN

About Clearway Energy

(Get Free Report)

Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional and Renewables segments. It has approximately 6,000 net MW of installed wind, solar, and energy generation projects; and approximately 2,500 net MW of natural gas-fired generation facilities.

Featured Stories