Pinnacle West Capital (PNW) Updates FY 2018 Earnings Guidance

Pinnacle West Capital (NYSE:PNW) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.35-4.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.48. Pinnacle West Capital also updated its FY18 guidance to $1.35-4.55 EPS.

Shares of NYSE PNW opened at $88.47 on Friday. Pinnacle West Capital has a twelve month low of $73.41 and a twelve month high of $92.48. The company has a market capitalization of $9.56 billion, a PE 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 earnings results on Thursday, November 8th. The utilities provider reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.05. Pinnacle West Capital had a return on equity of 9.12% and a net margin of 12.95%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business earned $2.46 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. On average, analysts forecast that Pinnacle West Capital will post 4.47 EPS for the current fiscal year.

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

Several research firms recently commented on PNW. Morgan Stanley upped their price objective on Pinnacle West Capital from $85.00 to $89.00 and gave the company a hold rating in a research note on Tuesday, September 11th. SunTrust Banks upped their price objective on Pinnacle West Capital to $90.00 and gave the company an average rating in a research note on Friday. They noted that the move was a valuation call. Williams Capital upped their price objective on Pinnacle West Capital from $80.00 to $84.00 and gave the company a hold rating in a research note on Monday, October 15th. Goldman Sachs Group upgraded Pinnacle West Capital from a neutral rating to a buy rating in a research note on Thursday, October 18th. Finally, ValuEngine upgraded Pinnacle West Capital from a hold rating to a buy rating in a research note on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $85.00.

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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.

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

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