Zacks: Brokerages Anticipate Clearway Energy Inc (CWEN) Will Announce Earnings of $0.22 Per Share

Wall Street brokerages forecast that Clearway Energy Inc (NYSE:CWEN) will announce $0.22 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have provided estimates for Clearway Energy’s earnings, with estimates ranging from $0.08 to $0.35. Clearway Energy posted earnings per share of $0.19 during the same quarter last year, which indicates a positive year over year growth rate of 15.8%. The company is scheduled to announce its next earnings results on Thursday, March 7th.

According to Zacks, analysts expect that Clearway Energy will report full-year earnings of $1.45 per share for the current fiscal year, with EPS estimates ranging from $1.22 to $1.72. For the next financial year, analysts forecast that the business will post earnings of $2.00 per share, with EPS estimates ranging from $1.64 to $2.65. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Clearway Energy.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.33). The firm had revenue of $292.00 million during the quarter, compared to analyst estimates of $295.37 million. Clearway Energy had a return on equity of 6.01% and a net margin of 4.32%.

A number of analysts have recently issued reports on the company. ValuEngine lowered Clearway Energy from a “hold” rating to a “sell” rating in a research note on Friday. Zacks Investment Research lowered Clearway Energy from a “buy” rating to a “hold” rating in a research note on Thursday, October 18th. Finally, TheStreet raised Clearway Energy from a “c” rating to a “b-” rating in a research note on Wednesday, October 31st.

In other news, major shareholder Infrastructure Investor Global purchased 59,727 shares of the stock in a transaction dated Thursday, November 8th. The shares were purchased at an average cost of $19.75 per share, with a total value of $1,179,608.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.24% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CWEN. FMR LLC purchased a new position in Clearway Energy during the third quarter worth approximately $83,475,000. Beach Investment Counsel Inc. PA purchased a new position in Clearway Energy during the third quarter worth approximately $22,539,000. Verition Fund Management LLC purchased a new position in Clearway Energy during the third quarter worth approximately $7,077,000. Mcclain Value Management LLC purchased a new position in Clearway Energy during the third quarter worth approximately $5,710,000. Finally, CQS Cayman LP purchased a new position in Clearway Energy during the third quarter worth approximately $4,489,000. Hedge funds and other institutional investors own 31.47% of the company’s stock.

Shares of NYSE:CWEN opened at $18.23 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.52 and a debt-to-equity ratio of 2.07. The company has a market capitalization of $3.47 billion, a PE ratio of 22.49, a PEG ratio of 0.48 and a beta of 1.83. Clearway Energy has a 1 year low of $15.55 and a 1 year high of $20.75.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a $0.331 dividend. The ex-dividend date of this dividend is Friday, November 30th. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.26%. Clearway Energy’s payout ratio is currently 158.02%.

Clearway Energy Company Profile

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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