The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One company to watch right now is Clearway Energy (CWEN). CWEN is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A.

Investors should also recognize that CWEN has a P/B ratio of 0.94. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. CWEN's current P/B looks attractive when compared to its industry's average P/B of 2.08. Over the past year, CWEN's P/B has been as high as 1.32 and as low as 0.85, with a median of 0.99.

Finally, our model also underscores that CWEN has a P/CF ratio of 3.33. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. CWEN's P/CF compares to its industry's average P/CF of 8.77. Over the past year, CWEN's P/CF has been as high as 4.19 and as low as 3.04, with a median of 3.58.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Clearway Energy is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, CWEN feels like a great value stock at the moment.

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Clearway Energy, Inc. (CWEN) : Free Stock Analysis Report

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