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Clean Energy Fuels (CLNE) Stock Sinks As Market Gains: What You Should Know

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Zacks Equity Research
·2 min read
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In the latest trading session, Clean Energy Fuels (CLNE) closed at $10.47, marking a -0.95% move from the previous day. This move lagged the S&P 500's daily gain of 1.39%. Meanwhile, the Dow gained 1.57%, and the Nasdaq, a tech-heavy index, added 1.56%.

Investors will be hoping for strength from CLNE as it approaches its next earnings release. On that day, CLNE is projected to report earnings of $0.01 per share, which would represent a year-over-year decline of 95.24%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $73.20 million, down 38.81% from the year-ago period.

Any recent changes to analyst estimates for CLNE should also be noted by investors. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 155.56% higher. CLNE is currently a Zacks Rank #3 (Hold).

Looking at its valuation, CLNE is holding a Forward P/E ratio of 204.6. Its industry sports an average Forward P/E of 15.02, so we one might conclude that CLNE is trading at a premium comparatively.

The Utility - Gas Distribution industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 123, which puts it in the top 49% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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