Clearway Energy (CWEN) closed the most recent trading day at $29.14, moving -0.14% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 2.13%. Meanwhile, the Dow gained 1.65%, and the Nasdaq, a tech-heavy index, added 2.61%.

The company created by NRG Energy to acquire and operate natural gas, solar and wind plants's shares have seen an increase of 11.03% over the last month, surpassing the Oils-Energy sector's loss of 5.54% and the S&P 500's loss of 9.57%.

The investment community will be closely monitoring the performance of Clearway Energy in its forthcoming earnings report. The company's upcoming EPS is projected at -$0.38, signifying a 1800% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $316.5 million, showing a 20.34% escalation compared to the year-ago quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.70 per share and a revenue of $1.53 billion, signifying shifts of -6.67% and +11.73%, respectively, from the last year.

Investors should also note any recent changes to analyst estimates for Clearway Energy. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 21.93% rise in the Zacks Consensus EPS estimate. Clearway Energy currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Clearway Energy has a Forward P/E ratio of 41.99 right now. Its industry sports an average Forward P/E of 18.17, so one might conclude that Clearway Energy is trading at a premium comparatively.

Investors should also note that CWEN has a PEG ratio of 1.55 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Alternative Energy - Other industry held an average PEG ratio of 2.13.

The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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