Clearway Energy (CWEN) Scheduled to Post Quarterly Earnings on Wednesday

Clearway Energy (NYSE:CWEN) is set to release its earnings data before the market opens on Wednesday, October 30th. Analysts expect Clearway Energy to post earnings of $0.48 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Thursday, August 1st. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The business had revenue of $366.00 million for the quarter, compared to the consensus estimate of $424.59 million. During the same quarter in the prior year, the business earned $0.33 EPS. Clearway Energy’s revenue for the quarter was down 9.9% compared to the same quarter last year. On average, analysts expect Clearway Energy to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Clearway Energy Stock Performance

NYSE CWEN opened at $25.99 on Monday. The firm has a market cap of $5.25 billion, a P/E ratio of 34.20, a price-to-earnings-growth ratio of 2.26 and a beta of 0.86. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 1.19. The company’s 50 day moving average is $28.58 and its 200-day moving average is $26.83. Clearway Energy has a 12-month low of $20.63 and a 12-month high of $30.92.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.417 dividend. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.41. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.42%. The ex-dividend date of this dividend was Tuesday, September 3rd. Clearway Energy’s dividend payout ratio (DPR) is presently 219.74%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. CIBC increased their price objective on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on shares of Clearway Energy in a research report on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective for the company. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Roth Mkm reaffirmed a “buy” rating and issued a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Finally, Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $25.00 to $36.00 in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.13.

About Clearway Energy

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.