Clearway Energy (NYSE:CWEN – Get Free Report) released its quarterly earnings results on Monday. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.41), Zacks reports. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%.
Clearway Energy Price Performance
Shares of NYSE:CWEN traded up $0.61 during trading on Monday, hitting $34.71. 1,164,751 shares of the company’s stock were exchanged, compared to its average volume of 1,176,630. The business’s 50-day simple moving average is $31.12 and its 200 day simple moving average is $35.54. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 45.67 and a beta of 0.81. Clearway Energy has a 52-week low of $28.57 and a 52-week high of $41.74. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02.
Analyst Upgrades and Downgrades
Several research firms have recently commented on CWEN. Seaport Research Partners reduced their price objective on Clearway Energy from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 2nd. Morgan Stanley lowered their target price on Clearway Energy from $58.00 to $52.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. Zacks Research upgraded Clearway Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Jefferies Financial Group reissued a “buy” rating and set a $38.00 price target on shares of Clearway Energy in a report on Friday, September 4th. Finally, Evercore restated a “positive” rating and issued a $40.00 price target on shares of Clearway Energy in a research report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $42.00.
Check Out Our Latest Stock Analysis on CWEN
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.
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