Pinnacle West Capital (PNW) Updates FY19 Earnings Guidance

Share on StockTwits

Pinnacle West Capital (NYSE:PNW) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.75-4.95 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.86.

Shares of PNW stock traded up $0.92 during mid-day trading on Friday, hitting $93.99. 8,616 shares of the company’s stock were exchanged, compared to its average volume of 1,054,480. Pinnacle West Capital has a fifty-two week low of $73.41 and a fifty-two week high of $97.27. The company has a quick ratio of 0.38, a current ratio of 0.56 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $10.70 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 3.92 and a beta of 0.18.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). Pinnacle West Capital had a return on equity of 9.67% and a net margin of 13.85%. The business had revenue of $740.53 million for the quarter, compared to analyst estimates of $718.60 million. During the same quarter last year, the business earned $0.03 EPS. Pinnacle West Capital’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts anticipate that Pinnacle West Capital will post 4.85 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.7375 per share. This represents a $2.95 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Tuesday, April 30th. Pinnacle West Capital’s dividend payout ratio (DPR) is 64.98%.

Several equities research analysts have recently issued reports on PNW shares. Goldman Sachs Group cut Pinnacle West Capital from a buy rating to a neutral rating in a report on Thursday, January 10th. Wolfe Research cut Pinnacle West Capital from a market perform rating to an underperform rating and set a $83.00 target price on the stock. in a report on Tuesday, January 22nd. Wells Fargo & Co cut Pinnacle West Capital from an outperform rating to a market perform rating and set a $87.36 target price on the stock. in a report on Wednesday, January 30th. Credit Suisse Group lifted their target price on Pinnacle West Capital from $93.00 to $100.00 and gave the company an outperform rating in a report on Monday, February 25th. Finally, Royal Bank of Canada cut Pinnacle West Capital from an outperform rating to a sector perform rating and set a $93.00 target price on the stock. in a report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $90.91.

In other Pinnacle West Capital news, VP Donna M. Easterly sold 2,358 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $95.67, for a total transaction of $225,589.86. Following the transaction, the vice president now owns 2,991 shares in the company, valued at $286,148.97. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Denise R. Danner sold 3,278 shares of the business’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $92.88, for a total value of $304,460.64. Following the transaction, the chief accounting officer now owns 6,479 shares in the company, valued at approximately $601,769.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,406 shares of company stock worth $4,132,062. 0.41% of the stock is currently owned by insiders.

ILLEGAL ACTIVITY WARNING: This news story was published by Week Herald and is the sole property of of Week Herald. If you are accessing this news story on another domain, it was stolen and reposted in violation of United States & international trademark and copyright law. The original version of this news story can be viewed at https://weekherald.com/2019/05/03/pinnacle-west-capital-pnw-updates-fy19-earnings-guidance.html.

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.

Featured Article: What is a trade deficit?

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.