Clearway Energy Inc Class C (NYLD) Expected to Post Quarterly Sales of $294.37 Million

Equities research analysts expect Clearway Energy Inc Class C (NYSE:NYLD) to announce $294.37 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Clearway Energy Inc Class C’s earnings. The highest sales estimate is $297.74 million and the lowest is $291.00 million. Clearway Energy Inc Class C reported sales of $265.00 million in the same quarter last year, which indicates a positive year over year growth rate of 11.1%. The business is expected to report its next quarterly earnings report on Thursday, November 1st.

On average, analysts expect that Clearway Energy Inc Class C will report full-year sales of $1.13 billion for the current financial year, with estimates ranging from $1.11 billion to $1.16 billion. For the next year, analysts anticipate that the company will report sales of $1.20 billion per share, with estimates ranging from $1.19 billion to $1.21 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Clearway Energy Inc Class C.

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

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

NYLD stock opened at $20.20 on Friday. Clearway Energy Inc Class C has a twelve month low of $15.55 and a twelve month high of $20.75. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.59 and a quick ratio of 0.54. The company has a market cap of $3.75 billion, a PE ratio of 24.88, a P/E/G ratio of 0.70 and a beta of 2.21.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Shareholders of record on Tuesday, September 4th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date of this dividend is Friday, August 31st. This is an increase from Clearway Energy Inc Class C’s previous quarterly dividend of $0.31. Clearway Energy Inc Class C’s payout ratio is currently 158.02%.

Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in Clearway Energy Inc Class C by 25.1% in the first quarter. Principal Financial Group Inc. now owns 109,099 shares of the utilities provider’s stock worth $1,854,000 after purchasing an additional 21,905 shares during the period. Acadian Asset Management LLC acquired a new position in Clearway Energy Inc Class C in the second quarter worth $404,000. WBI Investments Inc. acquired a new position in Clearway Energy Inc Class C in the second quarter worth $5,425,000. Wexford Capital LP acquired a new position in Clearway Energy Inc Class C in the first quarter worth $3,756,000. Finally, Eqis Capital Management Inc. boosted its holdings in Clearway Energy Inc Class C by 7.5% in the second quarter. Eqis Capital Management Inc. now owns 68,930 shares of the utilities provider’s stock worth $1,186,000 after purchasing an additional 4,795 shares during the period. 29.63% of the stock is owned by hedge funds and other institutional investors.

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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