Pinnacle West Capital Corp. Upgraded to “Neutral” by Goldman Sachs Group Inc. (PNW)
Pinnacle West Capital Corp. (NYSE:PNW) was upgraded by equities researchers at Goldman Sachs Group Inc. from a “sell” rating to a “neutral” rating in a research report issued on Monday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on PNW. Analysts at Barclays cut their price target on shares of Pinnacle West Capital Corp. from $60.00 to $55.00 in a research note to investors on Monday, January 6th. They now have an “equal weight” rating on the stock. Separately, analysts at CRT Capital initiated coverage on shares of Pinnacle West Capital Corp. in a research note to investors on Tuesday, November 5th. They set a “fair value” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Pinnacle West Capital Corp. in a research note to investors on Friday, November 1st. They now have a $59.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Pinnacle West Capital Corp. has a consensus rating of “Hold” and a consensus price target of $59.19.
In other Pinnacle West Capital Corp. news, EVP David Falck unloaded 7,500 shares of Pinnacle West Capital Corp. stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $52.92, for a total transaction of $396,900.00. Following the completion of the sale, the executive vice president now directly owns 33,678 shares in the company, valued at approximately $1,782,240. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Pinnacle West Capital Corp. (NYSE:PNW) traded down 0.58% on Monday, hitting $52.97. 809,036 shares of the company’s stock traded hands. Pinnacle West Capital Corp. has a 52 week low of $51.56 and a 52 week high of $61.89. The stock has a 50-day moving average of $53.01 and a 200-day moving average of $55.28. The company has a market cap of $5.829 billion and a P/E ratio of 14.62.
Pinnacle West Capital Corp. (NYSE:PNW) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.04 earnings per share for the quarter, missing the analysts’ consensus estimate of $2.15 by $0.11. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company posted $2.21 earnings per share. Pinnacle West Capital Corp.’s revenue was up 3.9% compared to the same quarter last year. Analysts expect that Pinnacle West Capital Corp. will post $3.63 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 3rd. Investors of record on Monday, February 3rd will be paid a dividend of 0.5675 per share. This represents a $2.27 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Thursday, January 30th.
Pinnacle West Capital Corporation (NYSE:PNW) is a holding company that conducts business through its subsidiaries.
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