Clearway Energy (CWEN) Set to Announce Earnings on Wednesday

Clearway Energy (NYSE:CWEN) is scheduled to be announcing its earnings results before the market opens on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.48 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.43 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $424.59 million. During the same period in the previous year, the business posted $0.33 earnings per share. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. 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 Trading Up 0.4 %

NYSE CWEN opened at $26.83 on Wednesday. The company has a market cap of $5.42 billion, a P/E ratio of 35.30, a P/E/G ratio of 2.30 and a beta of 0.86. Clearway Energy has a 12 month low of $20.63 and a 12 month high of $30.92. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.46 and a quick ratio of 1.37. The company has a 50-day moving average of $28.74 and a 200-day moving average of $26.77.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.417 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Tuesday, September 3rd. This represents a $1.67 annualized dividend and a yield of 6.22%. Clearway Energy’s dividend payout ratio is 219.74%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. CIBC boosted their price objective on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday. StockNews.com raised Clearway Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Roth Mkm restated a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. 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 report on Wednesday, July 31st. Finally, Jefferies Financial Group began coverage on shares of Clearway Energy in a report on Friday, September 20th. They issued a “buy” rating and a $35.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently 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.