Pinnacle West Capital Corp. (PNW) Releases FY14 Earnings Guidance
Pinnacle West Capital Corp. (NYSE:PNW) issued an update on its FY14 earnings guidance on Friday morning. The company provided earnings per share guidance of $3.60-3.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.71, American Banking News reports.
PNW has been the subject of a number of recent research reports. Analysts at Zacks reiterated a neutral rating on shares of Pinnacle West Capital Corp. in a research note on Tuesday. They now have a $57.00 price target on the stock. On a related note, analysts at SunTrust upgraded shares of Pinnacle West Capital Corp. from a neutral rating to a buy rating in a research note on Tuesday, February 4th. Finally, analysts at Goldman Sachs upgraded shares of Pinnacle West Capital Corp. from a sell rating to a neutral rating in a research note on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $58.94.
Pinnacle West Capital Corp. (NYSE:PNW) traded down 0.02% on Friday, hitting $55.09. The stock had a trading volume of 267,684 shares. Pinnacle West Capital Corp. has a 52 week low of $51.15 and a 52 week high of $61.89. The stock’s 50-day moving average is $52.75 and its 200-day moving average is $54.. The company has a market cap of $6.062 billion and a price-to-earnings ratio of 15.12.
Pinnacle West Capital Corp. (NYSE:PNW) last posted its quarterly earnings results on Friday, February 21st. The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.18 by $0.04. The company had revenue of $699.76 million for the quarter, compared to the consensus estimate of $664.58 million. 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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