Pinnacle West Capital (PNW) Issues FY19 Earnings Guidance

Pinnacle West Capital (NYSE:PNW) updated its FY19 earnings guidance on Thursday. The company provided EPS guidance of $4.75-4.95 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.74. Pinnacle West Capital also updated its FY 2018 guidance to $4.35-4.55 EPS.

Several equities research analysts have recently issued reports on the stock. SunTrust Banks lifted their price objective on shares of Pinnacle West Capital to $90.00 and gave the company an average rating in a research report on Friday. They noted that the move was a valuation call. Wells Fargo & Co restated a buy rating on shares of Pinnacle West Capital in a research report on Thursday. ValuEngine cut shares of Pinnacle West Capital from a buy rating to a hold rating in a research report on Thursday, November 1st. Barclays initiated coverage on shares of Pinnacle West Capital in a research report on Monday, October 22nd. They issued a hold rating and a $86.00 price target on the stock. Finally, Goldman Sachs Group upgraded shares of Pinnacle West Capital from a neutral rating to a buy rating in a research report on Thursday, October 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $85.00.

Shares of PNW opened at $88.47 on Friday. Pinnacle West Capital has a fifty-two week low of $73.41 and a fifty-two week high of $92.48. The firm has a market capitalization of $9.56 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 4.27 and a beta of 0.04. The company has a current ratio of 0.50, a quick ratio of 0.36 and a debt-to-equity ratio of 0.81.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Thursday, November 8th. The utilities provider reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.05. Pinnacle West Capital had a net margin of 12.95% and a return on equity of 9.12%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the business posted $2.46 earnings per share. Pinnacle West Capital’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, analysts anticipate that Pinnacle West Capital will post 4.47 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 1st will be paid a dividend of $0.7375 per share. This represents a $2.95 annualized dividend and a yield of 3.33%. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.70. The ex-dividend date is Wednesday, October 31st. Pinnacle West Capital’s payout ratio is presently 67.82%.

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About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar resources. The company serves approximately 1.2 million homes and businesses.

See Also: Fundamental Analysis

Earnings History and Estimates for Pinnacle West Capital (NYSE:PNW)

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