Gabelli Comments on Calpine Co.’s FY2020 Earnings (CPN)
Calpine Co. (NYSE:CPN) – Gabelli issued their FY2020 earnings per share estimates for Calpine in a note issued to investors on Thursday. Gabelli analyst T. Winter expects that the utilities provider will earn $1.00 per share for the year. Gabelli also issued estimates for Calpine’s FY2021 earnings at $1.60 EPS.
Calpine (NYSE:CPN) last issued its quarterly earnings results on Friday, April 28th. The utilities provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.15. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $1.16 billion. Calpine had a net margin of 1.37% and a negative return on equity of 1.31%. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.65) earnings per share. TRADEMARK VIOLATION NOTICE: “Gabelli Comments on Calpine Co.’s FY2020 Earnings (CPN)” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another site, it was illegally stolen and reposted in violation of international copyright and trademark law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/05/26/gabelli-comments-on-calpine-co-s-fy2020-earnings-cpn.html.
Several other brokerages have also recently weighed in on CPN. ValuEngine raised shares of Calpine from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Zacks Investment Research raised shares of Calpine from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 16th. Citigroup Inc set a $15.00 target price on shares of Calpine and gave the stock a “buy” rating in a research report on Thursday, May 11th. Goldman Sachs Group Inc dropped their target price on shares of Calpine from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, May 2nd. Finally, BMO Capital Markets reissued a “buy” rating and set a $14.00 target price on shares of Calpine in a research report on Friday, April 28th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $14.50.
Calpine (NYSE:CPN) traded up 0.23% during mid-day trading on Friday, hitting $13.13. The company had a trading volume of 995,407 shares. Calpine has a 12-month low of $9.30 and a 12-month high of $16.07. The firm has a market capitalization of $4.74 billion, a PE ratio of 19.95 and a beta of 1.05. The company’s 50 day moving average price is $11.18 and its 200-day moving average price is $11.38.
Several hedge funds have recently bought and sold shares of CPN. Russell Investments Group Ltd. bought a new stake in Calpine during the fourth quarter worth about $1,497,000. Brookfield Asset Management Inc. bought a new stake in Calpine during the third quarter worth about $5,056,000. Two Sigma Investments LP increased its stake in Calpine by 130.1% in the fourth quarter. Two Sigma Investments LP now owns 14,811 shares of the utilities provider’s stock worth $169,000 after buying an additional 64,011 shares in the last quarter. Corsair Capital Management L.P. increased its stake in Calpine by 62.4% in the third quarter. Corsair Capital Management L.P. now owns 913,571 shares of the utilities provider’s stock worth $11,547,000 after buying an additional 351,036 shares in the last quarter. Finally, Personal Capital Advisors Corp bought a new stake in Calpine during the first quarter worth about $394,000. 93.82% of the stock is owned by institutional investors.
Calpine Corporation is a power generation company. The Company is engaged in the ownership and operation of primarily natural gas-fired and geothermal power plants in North America. The Company’s segments include West (including geothermal), Texas and East (including Canada). In the Northeast and Mid-Atlantic regions, the Company has generating units capable of burning either natural gas or fuel oil.
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