Clean Energy Fuels (CLNE) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Clean Energy Fuels (CLNE) closed at $16.73, marking a -1.24% move from the previous day. This change lagged the S&P 500's 0.17% gain on the day. At the same time, the Dow lost 0.02%, and the tech-heavy Nasdaq gained 0.38%.
Coming into today, shares of the provider of natural gas as an alternative fuel for vehicle fleets had gained 62.73% in the past month. In that same time, the Utilities sector gained 0.92%, while the S&P 500 gained 2.33%.
CLNE will be looking to display strength as it nears its next earnings release, which is expected to be March 9, 2021. The company is expected to report EPS of $0.01, down 95.24% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $73.20 million, down 38.81% from the prior-year quarter.
Any recent changes to analyst estimates for CLNE should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CLNE is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, CLNE is holding a Forward P/E ratio of 338.8. This represents a premium compared to its industry's average Forward P/E of 15.49.
The Utility - Gas Distribution industry is part of the Utilities sector. This group has a Zacks Industry Rank of 58, putting it in the top 23% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Clean Energy Fuels Corp. (CLNE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
