Clearway Energy (CWEN) Scheduled to Post Earnings on Thursday

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Clearway Energy (NYSE:CWEN) will post its quarterly earnings results before the market opens on Thursday, May 6th. Analysts expect Clearway Energy to post earnings of ($0.31) per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Monday, March 1st. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.75). Clearway Energy had a return on equity of 2.27% and a net margin of 3.81%. The business had revenue of $280.00 million for the quarter, compared to analysts’ expectations of $296.00 million. On average, analysts expect Clearway Energy to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

NYSE:CWEN opened at $28.45 on Wednesday. The stock has a 50 day moving average price of $28.19 and a 200 day moving average price of $30.24. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.21 and a current ratio of 1.28. The stock has a market cap of $5.74 billion, a PE ratio of 79.03, a P/E/G ratio of 2.10 and a beta of 0.62. Clearway Energy has a one year low of $19.73 and a one year high of $37.23.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Monday, March 1st were paid a $0.324 dividend. The ex-dividend date of this dividend was Friday, February 26th. This is a boost from Clearway Energy’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 4.56%. Clearway Energy’s payout ratio is presently -1,300.00%.

In related news, CEO Christopher S. Sotos purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 4th. The shares were purchased at an average price of $26.26 per share, for a total transaction of $52,520.00. Following the transaction, the chief executive officer now directly owns 25,100 shares of the company’s stock, valued at approximately $659,126. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

A number of brokerages have recently weighed in on CWEN. Morgan Stanley lifted their price objective on Clearway Energy from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Tuesday. Tudor Pickering assumed coverage on Clearway Energy in a report on Thursday, April 29th. They set a “buy” rating and a $33.00 price target for the company. Seaport Global Securities raised Clearway Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a report on Tuesday, March 30th. Wolfe Research raised Clearway Energy from a “peer perform” rating to an “outperform” rating and set a $33.00 target price for the company in a report on Wednesday, March 31st. Finally, Zacks Investment Research raised Clearway Energy from a “sell” rating to a “hold” rating and set a $29.00 target price for the company in a report on Monday, March 8th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $30.50.

About Clearway Energy

Clearway Energy, Inc, through its subsidiaries, engages in the renewable energy businesses in the United States. As of March 2, 2021, it had approximately 4,200 net megawatts (MW) of installed wind and solar generation projects; and 2,500 net MW of natural gas generation facilities, as well as a portfolio of district energy systems.

Read More: Quiet Period

Earnings History for Clearway Energy (NYSE:CWEN)

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