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

Clearway Energy (NYSE:CWEN) announced its quarterly earnings data on Monday. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates 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 Stock Performance

Clearway Energy stock traded up $0.61 during mid-day trading on Monday, reaching $34.71. 1,164,751 shares of the stock traded hands, compared to its average volume of 1,176,630. Clearway Energy has a 12-month low of $28.57 and a 12-month high of $41.74. The business’s 50-day moving average is $31.12 and its 200-day moving average is $35.54. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02. The stock has a market capitalization of $7.13 billion, a PE ratio of 45.67 and a beta of 0.81.

Analysts Set New Price Targets

CWEN has been the subject of several recent analyst reports. UBS Group decreased their price target on Clearway Energy from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st. Zacks Research raised Clearway Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Morgan Stanley reduced their price objective on Clearway Energy from $58.00 to $52.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. Wall Street Zen raised Clearway Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Finally, Seaport Research Partners decreased their target price on Clearway Energy from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Clearway Energy presently has a consensus rating of “Buy” and an average 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.