Pinnacle West Capital Co. (PNW) Expected to Announce Earnings of $1.44 Per Share

Equities analysts expect that Pinnacle West Capital Co. (NYSE:PNW) will post earnings per share (EPS) of $1.44 for the current quarter, according to Zacks. Zero analysts have made estimates for Pinnacle West Capital’s earnings, with estimates ranging from $1.33 to $1.47. Pinnacle West Capital posted earnings per share of $1.49 in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.4%. The firm is scheduled to issue its next earnings results before the market opens on Friday, August 3rd.

On average, analysts expect that Pinnacle West Capital will report full-year earnings of $4.44 per share for the current financial year, with EPS estimates ranging from $4.40 to $4.48. For the next year, analysts expect that the business will post earnings of $4.72 per share, with EPS estimates ranging from $4.68 to $4.77. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Pinnacle West Capital.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Wednesday, May 2nd. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.07). The company had revenue of $692.71 million during the quarter, compared to the consensus estimate of $680.96 million. Pinnacle West Capital had a net margin of 13.08% and a return on equity of 9.11%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $0.21 earnings per share.

Several research firms have recently issued reports on PNW. Zacks Investment Research cut shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Morgan Stanley decreased their price objective on shares of Pinnacle West Capital from $82.00 to $78.00 and set an “equal weight” rating for the company in a report on Wednesday, June 13th. ValuEngine upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $82.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, April 11th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $84.45.

Shares of Pinnacle West Capital stock traded down $0.30 on Friday, hitting $80.66. The company had a trading volume of 548,995 shares, compared to its average volume of 899,042. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.51 and a quick ratio of 0.35. The stock has a market capitalization of $8.93 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 4.00 and a beta of 0.26. Pinnacle West Capital has a 52 week low of $73.41 and a 52 week high of $92.48.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Wednesday, August 1st will be issued a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Tuesday, July 31st. Pinnacle West Capital’s payout ratio is 63.91%.

In related news, EVP Mark A. Schiavoni sold 9,534 shares of the firm’s stock in a transaction that occurred on Tuesday, May 29th. The shares were sold at an average price of $79.02, for a total transaction of $753,376.68. Following the completion of the sale, the executive vice president now directly owns 25,496 shares in the company, valued at $2,014,693.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.53% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Piedmont Investment Advisors LLC bought a new stake in Pinnacle West Capital during the second quarter worth approximately $106,000. Zeke Capital Advisors LLC bought a new stake in Pinnacle West Capital during the second quarter worth approximately $579,000. Nisa Investment Advisors LLC boosted its holdings in Pinnacle West Capital by 19.2% during the second quarter. Nisa Investment Advisors LLC now owns 37,540 shares of the utilities provider’s stock worth $3,024,000 after buying an additional 6,050 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Pinnacle West Capital by 11,238.3% during the second quarter. Assenagon Asset Management S.A. now owns 528,703 shares of the utilities provider’s stock worth $42,592,000 after buying an additional 524,040 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in Pinnacle West Capital by 34.0% during the second quarter. Bank of Montreal Can now owns 300,344 shares of the utilities provider’s stock worth $24,197,000 after buying an additional 76,160 shares in the last quarter. Hedge funds and other institutional investors own 83.27% of the company’s stock.

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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