SunTrust Banks Analysts Lower Earnings Estimates for Talen Energy Corp. (TLN)
Talen Energy Corp. (NYSE:TLN) – SunTrust Banks dropped their FY2017 earnings per share estimates for Talen Energy Corp. in a note issued to investors on Monday. SunTrust Banks analyst A. Agha now anticipates that the firm will post earnings per share of $0.09 for the year, down from their prior estimate of $0.12. SunTrust Banks has a “Neutral” rating on the stock.
Talen Energy Corp. (NYSE:TLN) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.26. The business had revenue of $697 million for the quarter, compared to analysts’ expectations of $869.16 million. Talen Energy Corp. had a positive return on equity of 2.23% and a negative net margin of 7.14%. Talen Energy Corp.’s revenue for the quarter was down 26.5% compared to the same quarter last year.
A number of other research firms have also weighed in on TLN. Evercore ISI lowered shares of Talen Energy Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 6th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Talen Energy Corp. in a research report on Thursday, August 25th. Zacks Investment Research lowered shares of Talen Energy Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, July 9th. Finally, Barclays PLC lowered shares of Talen Energy Corp. from an “overweight” rating to an “equal weight” rating and set a $14.00 target price on the stock. in a research report on Friday, June 17th. Seven equities research analysts have rated the stock with a hold rating, Talen Energy Corp. presently has a consensus rating of “Hold” and a consensus target price of $13.67.
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Talen Energy Corp. (NYSE:TLN) remained flat at $13.86 during trading on Tuesday. 508,621 shares of the company were exchanged. The company’s market cap is $1.78 billion. The stock’s 50-day moving average price is $13.75 and its 200 day moving average price is $12.29. Talen Energy Corp. has a 12-month low of $5.73 and a 12-month high of $14.03.
Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of Talen Energy Corp. by 21.4% in the second quarter. JPMorgan Chase & Co. now owns 4,267,346 shares of the company’s stock valued at $57,823,000 after buying an additional 751,799 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Talen Energy Corp. by 4.7% in the second quarter. BlackRock Fund Advisors now owns 3,735,945 shares of the company’s stock valued at $50,622,000 after buying an additional 166,314 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Talen Energy Corp. by 12.6% in the first quarter. Prudential Financial Inc. now owns 2,449,654 shares of the company’s stock valued at $22,047,000 after buying an additional 274,228 shares during the last quarter. State Street Corp raised its position in shares of Talen Energy Corp. by 2.5% in the second quarter. State Street Corp now owns 2,396,351 shares of the company’s stock valued at $32,468,000 after buying an additional 59,104 shares during the last quarter. Finally, CNH Partners LLC acquired a new position in shares of Talen Energy Corp. during the second quarter valued at about $31,035,000. 96.63% of the stock is currently owned by institutional investors.
About Talen Energy Corp.
Talen Energy Corporation, through its principal subsidiary, Talen Energy Supply, LLC, is an energy and power generation and marketing company. The Company operates through two segments: East and West. The East segment includes the generating, marketing and trading activities in PJM Interconnection, LLC.
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