$2.97 Earnings Per Share Expected for Pinnacle West Capital Co. (NYSE:PNW) This Quarter

Brokerages expect Pinnacle West Capital Co. (NYSE:PNW) to report earnings per share of $2.97 for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Pinnacle West Capital’s earnings, with the highest EPS estimate coming in at $3.26 and the lowest estimate coming in at $2.84. Pinnacle West Capital posted earnings of $2.80 per share in the same quarter last year, which indicates a positive year over year growth rate of 6.1%. The business is expected to issue its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Pinnacle West Capital will report full-year earnings of $4.79 per share for the current year, with EPS estimates ranging from $4.75 to $4.85. For the next year, analysts expect that the firm will post earnings of $5.02 per share, with EPS estimates ranging from $4.88 to $5.13. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Pinnacle West Capital.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.43 by ($0.15). Pinnacle West Capital had a return on equity of 9.33% and a net margin of 13.84%. The firm had revenue of $869.50 million during the quarter, compared to the consensus estimate of $973.16 million. During the same period in the previous year, the company posted $1.48 earnings per share. The company’s revenue for the quarter was down 10.7% on a year-over-year basis.

A number of equities research analysts have issued reports on the stock. Wells Fargo & Co reaffirmed a “hold” rating on shares of Pinnacle West Capital in a research report on Friday, August 9th. Argus raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Tuesday, July 30th. Zacks Investment Research raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research report on Monday, May 20th. SunTrust Banks reduced their price objective on shares of Pinnacle West Capital from $99.00 to $98.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, UBS Group reduced their price objective on shares of Pinnacle West Capital from $103.00 to $99.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $97.17.

PNW stock traded up $0.34 during trading on Friday, reaching $94.12. The stock had a trading volume of 1,310,000 shares, compared to its average volume of 1,084,160. Pinnacle West Capital has a one year low of $77.19 and a one year high of $99.81. The company has a quick ratio of 0.36, a current ratio of 0.54 and a debt-to-equity ratio of 0.92. The company’s 50 day moving average is $93.41 and its two-hundred day moving average is $94.04. The company has a market capitalization of $10.31 billion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 3.17 and a beta of 0.15.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be given a dividend of $0.738 per share. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.74. This represents a $2.95 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Wednesday, July 31st. Pinnacle West Capital’s dividend payout ratio is currently 64.98%.

Institutional investors have recently added to or reduced their stakes in the company. Zions Bancorporation N.A. bought a new position in shares of Pinnacle West Capital during the 1st quarter valued at approximately $26,000. Weaver Consulting Group bought a new position in shares of Pinnacle West Capital during the 1st quarter valued at approximately $29,000. Harvest Fund Management Co. Ltd bought a new position in shares of Pinnacle West Capital during the 2nd quarter valued at approximately $35,000. HM Payson & Co. bought a new position in shares of Pinnacle West Capital during the 2nd quarter valued at approximately $37,000. Finally, CSat Investment Advisory L.P. grew its position in shares of Pinnacle West Capital by 50.3% during the 2nd quarter. CSat Investment Advisory L.P. now owns 448 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 150 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

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 generating facilities. The company serves approximately 1.2 million customers.

See Also: Example of operating income, EBIT and EBITDA

Get a free copy of the Zacks research report on Pinnacle West Capital (PNW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Pinnacle West Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital and related companies with MarketBeat.com's FREE daily email newsletter.