Clearway Energy (NYSE:CWEN) Posts Earnings Results, Misses Expectations By $0.10 EPS

Clearway Energy (NYSE:CWEN - Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.10), Zacks reports. The business had revenue of $256.00 million for the quarter, compared to analysts' expectations of $299.73 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%.

Clearway Energy Price Performance

CWEN stock traded down $0.34 during mid-day trading on Thursday, hitting $27.41. The company had a trading volume of 375,324 shares, compared to its average volume of 799,861. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 26.35, a P/E/G ratio of 1.75 and a beta of 0.88. Clearway Energy has a 12-month low of $20.63 and a 12-month high of $30.92. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. The company has a 50-day moving average price of $26.11 and a 200 day moving average price of $27.53.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.4312 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.72 annualized dividend and a yield of 6.29%. This is a boost from Clearway Energy's previous quarterly dividend of $0.42. Clearway Energy's payout ratio is presently 165.38%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CWEN. Roth Mkm reiterated a "buy" rating and set a $34.00 price target (up previously from $33.00) on shares of Clearway Energy in a research note on Tuesday. StockNews.com cut shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Clearway Energy currently has an average rating of "Moderate Buy" and a consensus price target of $32.86.

Remove Ads

Insiders Place Their Bets

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total value of $53,480.00. Following the sale, the director now owns 8,153 shares in the company, valued at $218,011.22. The trade was a 19.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.52% of the company's stock.

Clearway Energy Company Profile

Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional and Renewables segments. It has approximately 6,000 net MW of installed wind, solar, and energy generation projects; and approximately 2,500 net MW of natural gas-fired generation facilities.