Calpine Corporation (NYSE:CPN) Downgraded by BidaskClub

BidaskClub downgraded shares of Calpine Corporation (NYSE:CPN) from a hold rating to a sell rating in a report published on Wednesday.

Several other research firms have also issued reports on CPN. Deutsche Bank AG set a $14.00 price objective on shares of Calpine Corporation and gave the stock a buy rating in a research report on Thursday, May 11th. Royal Bank of Canada set a $13.00 price objective on shares of Calpine Corporation and gave the stock a buy rating in a research report on Saturday, June 3rd. Citigroup Inc. set a $15.00 price objective on shares of Calpine Corporation and gave the stock a buy rating in a research report on Thursday, May 11th. Zacks Investment Research lowered shares of Calpine Corporation from a buy rating to a hold rating in a research report on Tuesday, June 27th. Finally, Goldman Sachs Group, Inc. (The) decreased their target price on shares of Calpine Corporation from $15.00 to $14.00 and set a buy rating for the company in a research note on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $14.67.

Shares of Calpine Corporation (NYSE CPN) traded down 2.24% during trading on Wednesday, reaching $13.12. 626,944 shares of the company’s stock traded hands. The stock has a 50-day moving average of $13.23 and a 200-day moving average of $11.72. Calpine Corporation has a 1-year low of $9.30 and a 1-year high of $15.12. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 19.94 and a beta of 1.01.

Calpine Corporation (NYSE:CPN) last released its quarterly earnings data on Friday, April 28th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by $0.15. Calpine Corporation had a negative return on equity of 1.59% and a net margin of 3.17%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company earned ($0.65) EPS. Calpine Corporation’s revenue was up 41.2% on a year-over-year basis. On average, equities analysts predict that Calpine Corporation will post $0.51 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. World Asset Management Inc increased its position in Calpine Corporation by 0.5% in the first quarter. World Asset Management Inc now owns 18,500 shares of the utilities provider’s stock worth $204,000 after buying an additional 87 shares during the period. TD Asset Management Inc. increased its position in Calpine Corporation by 0.5% in the first quarter. TD Asset Management Inc. now owns 55,535 shares of the utilities provider’s stock worth $614,000 after buying an additional 300 shares during the period. Comerica Bank increased its position in Calpine Corporation by 1.9% in the first quarter. Comerica Bank now owns 22,464 shares of the utilities provider’s stock worth $216,000 after buying an additional 422 shares during the period. First Midwest Bank Trust Division increased its position in Calpine Corporation by 1.7% in the first quarter. First Midwest Bank Trust Division now owns 59,000 shares of the utilities provider’s stock worth $652,000 after buying an additional 1,000 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Calpine Corporation by 2.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 51,766 shares of the utilities provider’s stock worth $572,000 after buying an additional 1,025 shares during the period. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Calpine Corporation Company Profile

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.

Analyst Recommendations for Calpine Corporation (NYSE:CPN)

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