Zacks: Analysts Await Clearway Energy Inc Class C (NYLD) Will Announce Revenue of $0.34 Per Share

Zacks: Analysts Await Clearway Energy Inc Class C (NYLD) Will Announce Revenue of $0.34 Per Share

Wall Street brokerages expect that Clearway Energy Inc Class C (NYSE:NYLD) will post earnings of $0.34 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Clearway Energy Inc Class C’s earnings. The highest EPS estimate is $0.42 and the lowest is $0.20. Clearway Energy Inc Class C reported earnings of $0.27 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 25.9%. The company is expected to announce its next earnings results on Thursday, November 1st.

On average, analysts expect that Clearway Energy Inc Class C will report full year earnings of $1.13 per share for the current fiscal year, with EPS estimates ranging from $1.09 to $1.16. For the next year, analysts expect that the company will post earnings of $1.20 per share, with EPS estimates ranging from $1.16 to $1.25. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that cover Clearway Energy Inc Class C.

Clearway Energy Inc Class C (NYSE:NYLD) last posted its earnings results on Thursday, August 2nd. The utilities provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.27. The firm had revenue of $307.00 million during the quarter, compared to the consensus estimate of $274.39 million. Clearway Energy Inc Class C had a net margin of 5.20% and a return on equity of 6.42%.

NYLD has been the subject of several recent research reports. Goldman Sachs Group set a $20.00 target price on shares of Clearway Energy Inc Class C and gave the stock a “hold” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Clearway Energy Inc Class C from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research note on Tuesday, July 17th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $18.80.

A number of large investors have recently modified their holdings of NYLD. Quantbot Technologies LP bought a new position in Clearway Energy Inc Class C during the first quarter worth about $108,000. Financial Gravity Wealth Inc. purchased a new stake in Clearway Energy Inc Class C during the first quarter worth about $152,000. First Republic Investment Management Inc. purchased a new stake in Clearway Energy Inc Class C during the second quarter worth about $197,000. Trexquant Investment LP purchased a new stake in Clearway Energy Inc Class C during the second quarter worth about $280,000. Finally, Lake Street Advisors Group LLC purchased a new stake in Clearway Energy Inc Class C during the second quarter worth about $324,000. 29.63% of the stock is owned by institutional investors.

Shares of NYLD traded down $0.10 during trading hours on Wednesday, hitting $20.10. The company’s stock had a trading volume of 446,116 shares, compared to its average volume of 470,624. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 0.71 and a beta of 2.21. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 2.29. Clearway Energy Inc Class C has a 52-week low of $15.55 and a 52-week high of $20.75.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be paid a $0.32 dividend. This is an increase from Clearway Energy Inc Class C’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, August 31st. This represents a $1.28 annualized dividend and a dividend yield of 6.37%. Clearway Energy Inc Class C’s dividend payout ratio (DPR) is presently 158.02%.

Clearway Energy Inc Class C 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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