One such stock that you may want to consider dropping is Clean Energy Fuels Corp. (NASDAQ: CLNE), which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in CLNE.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 4 estimates moving down in the past 30 days, with no upward revision. The trend has caused the consensus estimate to trend downward; that is a loss of 98 cents a share a month ago became wider to its current level of a loss of $1.11.
Also, for the current quarter, Clean Energy has seen 3 downward estimate revisions versus no revision in the upside, dragging the consensus estimate down to a loss of 31 cents a share from a loss of 25 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 10% in the past month.
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don't have a long time horizon to wait.
If you are still interested in the Utilities sector, you may instead consider some better-ranked stocks including Atmos Energy Corporation (NYSE: ATO), New Jersey Resources Corp. (NYSE: NJR) and Piedmont Natural Gas Co. Inc. (NYSE: PNY). All these of these carry a Zacks Rank #2 (Buy) and may be better selections at this time.
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ATMOS ENERGY CP (NYSE: ATO): Free Stock Analysis Report
CLEAN EGY FUELS (NASDAQ: CLNE): Free Stock Analysis Report
NJ RESOURCES (NYSE: NJR): Free Stock Analysis Report
PIEDMONT NAT GA (NYSE: PNY): Free Stock Analysis Report
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