$211.75 Million in Sales Expected for Clearway Energy Inc (CWEN) This Quarter

Wall Street analysts expect Clearway Energy Inc (NYSE:CWEN) to announce sales of $211.75 million for the current quarter, Zacks reports. Two analysts have issued estimates for Clearway Energy’s earnings, with the highest sales estimate coming in at $220.49 million and the lowest estimate coming in at $203.00 million. Clearway Energy reported sales of $225.00 million during the same quarter last year, which would suggest a negative year over year growth rate of 5.9%. The company is expected to announce its next earnings results before the market opens on Tuesday, May 7th.

According to Zacks, analysts expect that Clearway Energy will report full-year sales of $1.14 billion for the current financial year, with estimates ranging from $1.04 billion to $1.21 billion. For the next financial year, analysts expect that the business will report sales of $1.17 billion, with estimates ranging from $1.06 billion to $1.25 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Clearway Energy.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Thursday, February 28th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.68). The company had revenue of $229.00 million for the quarter, compared to the consensus estimate of $286.00 million. Clearway Energy had a return on equity of 2.13% and a net margin of 4.56%.

CWEN has been the topic of a number of recent analyst reports. Guggenheim lowered Clearway Energy from a “neutral” rating to a “sell” rating and set a $11.00 price objective on the stock. in a research report on Wednesday, February 13th. Zacks Investment Research lowered Clearway Energy from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 15th. Macquarie lowered Clearway Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, February 15th. Finally, ValuEngine lowered Clearway Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Clearway Energy has an average rating of “Hold” and a consensus target price of $16.50.

Shares of CWEN stock traded up $0.46 during trading hours on Friday, reaching $15.85. The company’s stock had a trading volume of 1,096,302 shares, compared to its average volume of 522,488. The firm has a market cap of $3.07 billion, a P/E ratio of 34.46, a P/E/G ratio of 1.28 and a beta of 1.22. Clearway Energy has a one year low of $12.12 and a one year high of $20.75. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.02 and a current ratio of 1.07.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.20 dividend. The ex-dividend date was Thursday, February 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.05%. Clearway Energy’s dividend payout ratio is currently 173.91%.

In other news, CFO Chad Plotkin bought 2,700 shares of the stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $14.79 per share, for a total transaction of $39,933.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kevin P. Malcarney bought 10,250 shares of the stock in a transaction dated Monday, March 4th. The stock was purchased at an average price of $14.58 per share, with a total value of $149,445.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 19,450 shares of company stock worth $283,563. Corporate insiders own 0.24% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CWEN. MML Investors Services LLC purchased a new position in shares of Clearway Energy in the 3rd quarter valued at approximately $236,000. FMR LLC purchased a new position in shares of Clearway Energy in the 3rd quarter valued at approximately $83,475,000. Trexquant Investment LP purchased a new position in shares of Clearway Energy in the 3rd quarter valued at approximately $323,000. Baird Financial Group Inc. purchased a new position in shares of Clearway Energy in the 3rd quarter valued at approximately $3,688,000. Finally, Blair William & Co. IL purchased a new position in shares of Clearway Energy in the 3rd quarter valued at approximately $332,000. Institutional investors own 31.62% of the company’s stock.

About Clearway Energy

Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable energy and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2018, it had contracted generation portfolio of 5,272 net megawatts (MWs) of wind, solar, and natural gas-fired power generation facilities, as well as district energy systems.

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