Clearway Energy (NYSE:CWEN) Releases Quarterly Earnings Results, Misses Expectations By $0.41 EPS

Clearway Energy (NYSE:CWEN) posted its quarterly earnings results on Monday. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.41), Zacks reports. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%.

Clearway Energy Price Performance

Shares of CWEN traded up $0.61 on Monday, reaching $34.71. The stock had a trading volume of 1,167,004 shares, compared to its average volume of 1,178,913. The firm has a market capitalization of $7.13 billion, a PE ratio of 45.67 and a beta of 0.81. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.55. The firm has a 50-day moving average of $31.12 and a 200 day moving average of $35.54. Clearway Energy has a twelve month low of $28.57 and a twelve month high of $41.74.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Zacks Research raised Clearway Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. Canadian Imperial Bank of Commerce set a $42.00 target price on Clearway Energy in a report on Friday, July 17th. Weiss Ratings lowered shares of Clearway Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. Morgan Stanley decreased their target price on shares of Clearway Energy from $58.00 to $52.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $38.00 price objective on shares of Clearway Energy in a research note on Friday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Clearway Energy currently has an average rating of “Buy” and a consensus target price of $42.00.

About Clearway Energy

Clearway Energy, Inc owns and operates electricity-generation facilities in the United States. Its portfolio includes renewable energy assets, primarily wind and solar, as well as energy storage and conventional power-generation and thermal infrastructure.

The company sells electricity and related services to utilities and other customers, often through long-term contractual arrangements. Its facilities are located across multiple U.S. regions.

Clearway Energy was formerly known as NRG Yield, Inc and adopted its current name in 2018.