Zacks: Brokerages Anticipate Clearway Energy Inc (CWEN) Will Announce Quarterly Sales of $295.37 Million

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Equities research analysts predict that Clearway Energy Inc (NYSE:CWEN) will post $295.37 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Clearway Energy’s earnings, with estimates ranging from $293.00 million to $297.74 million. Clearway Energy posted sales of $265.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.5%. The business is expected to issue its next earnings results before the market opens on Tuesday, November 6th.

According to Zacks, analysts expect that Clearway Energy will report full-year sales of $1.13 billion for the current financial year, with estimates ranging from $1.10 billion to $1.18 billion. For the next fiscal year, analysts expect that the business will post sales of $1.20 billion, with estimates ranging from $1.17 billion to $1.22 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Clearway Energy.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Thursday, August 2nd. The company reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.27. The business had revenue of $307.00 million during the quarter, compared to analysts’ expectations of $274.39 million. Clearway Energy had a return on equity of 6.42% and a net margin of 5.20%.

Separately, Zacks Investment Research lowered Clearway Energy from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th.

NYSE CWEN opened at $19.60 on Friday. The company has a market cap of $3.75 billion, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 0.44 and a beta of 2.21. Clearway Energy has a one year low of $15.55 and a one year high of $20.75. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.54 and a current ratio of 0.59.

Large investors have recently bought and sold shares of the company. Whittier Trust Co. bought a new position in shares of Clearway Energy in the 3rd quarter worth $114,000. NEXT Financial Group Inc bought a new position in shares of Clearway Energy in the 3rd quarter worth $186,000. Gilman Hill Asset Management LLC bought a new position in shares of Clearway Energy in the 3rd quarter worth $193,000. Oppenheimer & Co. Inc. bought a new position in shares of Clearway Energy in the 3rd quarter worth $305,000. Finally, Acadian Asset Management LLC bought a new position in shares of Clearway Energy in the 3rd quarter worth $510,000. Institutional investors and hedge funds own 29.00% of the company’s stock.

About Clearway Energy

Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2017, it had contracted renewable and conventional generation portfolio of 5,118 net megawatt (MW).

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