Talen Energy Corp. (TLN) Releases Earnings Results, Beats Estimates By $0.07 EPS
Talen Energy Corp. (NYSE:TLN) announced its quarterly earnings results on Thursday. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $926.30 million. Talen Energy Corp. had a positive return on equity of 2.23% and a negative net margin of 7.14%. The company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the company posted ($3.12) earnings per share.
Shares of Talen Energy Corp. (NYSE:TLN) opened at 13.96 on Thursday. Talen Energy Corp. has a 12 month low of $5.73 and a 12 month high of $14.03. The firm has a 50-day moving average price of $13.89 and a 200-day moving average price of $13.42. The stock’s market cap is $1.79 billion.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Talen Energy Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, November 2nd. Deutsche Bank AG reaffirmed a “hold” rating on shares of Talen Energy Corp. in a report on Thursday, August 25th. Seven analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus price target of $13.40.
A number of hedge funds have recently modified their holdings of the company. Teachers Advisors Inc. boosted its position in shares of Talen Energy Corp. by 5.3% in the first quarter. Teachers Advisors Inc. now owns 139,109 shares of the company’s stock valued at $1,252,000 after buying an additional 6,979 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Talen Energy Corp. during the first quarter valued at about $2,762,000. LGL Partners LLC bought a new position in shares of Talen Energy Corp. during the first quarter valued at about $124,000. Panagora Asset Management Inc. boosted its position in shares of Talen Energy Corp. by 507.9% in the first quarter. Panagora Asset Management Inc. now owns 921,420 shares of the company’s stock valued at $8,293,000 after buying an additional 769,857 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Talen Energy Corp. by 291.5% in the second quarter. BNP Paribas Arbitrage SA now owns 41,386 shares of the company’s stock valued at $561,000 after buying an additional 30,815 shares during the period. 96.59% of the stock is 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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