Pinnacle West Capital Corp. Stock Rating Upgraded by Bank of America Corp. (PNW)
Pinnacle West Capital Corp. (NYSE:PNW) was upgraded by equities research analysts at Bank of America Corp. to a “buy” rating in a research note issued to investors on Thursday, AnalystRatings.Net reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Ladenburg Thalmann raised their price target on shares of Pinnacle West Capital Corp. (NYSE:PNW) from $56.00 to $60.00 in a research note to investors on Tuesday, August 6th. Separately, analysts at Barclays Capital reiterated an “equal weight” rating on shares of Pinnacle West Capital Corp. (NYSE:PNW) in a research note to investors on Monday, August 5th. They now have a $60.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Pinnacle West Capital Corp. (NYSE:PNW) in a research note to investors on Tuesday, July 9th. They now have a $59.00 price target on the stock.
Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $60.21.
Pinnacle West Capital Corp. (NYSE:PNW) traded up 2.24% during mid-day trading on Thursday, hitting $53.491. 1,690,764 shares of the company’s stock traded hands. Pinnacle West Capital Corp. has a 52-week low of $48.73 and a 52-week high of $61.89. The stock’s 50-day moving average is $55.96 and its 200-day moving average is $57.23. The company has a market cap of $5.884 billion and a price-to-earnings ratio of 13.74.
Pinnacle West Capital Corp. (NYSE:PNW) last issued its quarterly earnings data on Friday, August 2nd. The company reported $1.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.07 by $0.11. The company had revenue of $915.82 million for the quarter, compared to the consensus estimate of $880.80 million. During the same quarter last year, the company posted $1.12 earnings per share. On average, analysts predict that Pinnacle West Capital Corp. will post $3.63 earnings per share for the current fiscal year.
Pinnacle West Capital Corporation (NYSE:PNW) is a holding company that conducts business through its subsidiaries.
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