Pinnacle West Capital (NYSE:PNW) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.75-4.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.81. Pinnacle West Capital also updated its FY19 guidance to $4.75-4.95 EPS.
Shares of NYSE PNW traded down $0.34 during trading on Friday, hitting $92.44. The stock had a trading volume of 1,274,329 shares, compared to its average volume of 1,017,805. Pinnacle West Capital has a 12 month low of $77.19 and a 12 month high of $99.81. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $10.42 billion, a P/E ratio of 20.36, a PEG ratio of 3.80 and a beta of 0.15. The company’s fifty day moving average price is $93.95.
Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Thursday, August 8th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by ($0.15). Pinnacle West Capital had a return on equity of 9.31% 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 quarter in the previous year, the company earned $1.48 EPS. The business’s revenue was down 10.7% compared to the same quarter last year. On average, research analysts predict that Pinnacle West Capital will post 4.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be given a dividend of $0.738 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $2.95 annualized dividend and a yield of 3.19%. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.74. Pinnacle West Capital’s dividend payout ratio is presently 64.98%.
Several equities analysts recently weighed in on the stock. Credit Suisse Group set a $102.00 price target on shares of Pinnacle West Capital and gave the company a buy rating in a research report on Monday, April 22nd. ValuEngine lowered shares of Pinnacle West Capital from a buy rating to a hold rating in a research report on Thursday, August 1st. Argus upgraded shares of Pinnacle West Capital from a hold rating to a buy rating and set a $102.00 price target for the company in a research report on Tuesday, July 30th. Bank of America upgraded shares of Pinnacle West Capital from a neutral rating to a buy rating and set a $105.00 price target for the company in a research report on Monday, April 15th. Finally, Evercore ISI lowered shares of Pinnacle West Capital from an in-line rating to an underperform rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Pinnacle West Capital has an average rating of Hold and a consensus price target of $95.82.
In other Pinnacle West Capital news, Director Michael L. Gallagher sold 5,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $95.90, for a total transaction of $479,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.41% of the stock is currently owned by corporate insiders.
Pinnacle West Capital Company Profile
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.
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