Calpine Corporation (CPN) Releases Earnings Results, Misses Expectations By $-0.50 EPS

Calpine Corporation (CPN) reported quarterly earnings results on Friday, Apr-29-2016. The company reported $-0.65 earnings per share for the quarter, missing the analyst consensus estimate by $-0.50. Analysts had a consensus of $-0.15. The company posted revenue of $1615.00 million in the period, compared to analysts expectations of $1034.23 million. The company’s revenue was down -1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.03 EPS.

Many Wall Street Analysts have commented on Calpine Corporation. Calpine Corporation was Downgraded by Argus to ” Hold” on Mar 8, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 16, 2016 to “Outperform” and Lowered the Price Target to $ 20 from a previous price target of $21 .

Calpine Corporation opened for trading at $15.27 and hit $15.72 on the upside on Wednesday, eventually ending the session at $15.56, with a gain of 2.17% or 0.33 points. The heightened volatility saw the trading volume jump to 30,85,637 shares. Company has a market cap of $5,550 M.

In a different news, on Nov 12, 2015, Iii, W. G. Griggs, (EVP & Chief Commercial Officer) purchased 15,000 shares at $14.75 per share price. According to the SEC, on May 8, 2015, David C Merritt (director) purchased 14,000 shares at $20.52 per share price. On Feb 26, 2015, Robert A Jr Mosbacher (director) sold 7,500 shares at $22.02 per share price, according to the Form-4 filing with the securities and exchange commission.

Calpine Corporation (Calpine) is a wholesale power generator. The Company owns and operates natural gas-fired and geothermal power plants in North America. It sells wholesale power steam capacity renewable energy credits and ancillary services to its customers which include utilities independent electric system operators industrial and agricultural companies retail power providers municipalities power marketers and others. Its segments are West (including geothermal) Texas and East (including Canada). The Company’s portfolio consists of two types of power generation technologies: natural gas-fired combustion turbines which are primarily combined-cycle plants and renewable geothermal conventional steam turbines. It is also an owner and operator of industrial gas turbines as well as cogeneration power plants. It owns 88 power plants including one under construction plant with an aggregate generation capacity of 26548 megawatt (MW) and 309 MW under construction.

Calpine Corporation

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