Pinnacle West Capital Receives Average Rating of “Hold” from Brokerages (NYSE:PNW)
Pinnacle West Capital (NYSE:PNW) has received an average recommendation of “Hold” from the thirteen analysts that are currently covering the stock, AnalystRatings.Net reports. Eight research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $59.28.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Pinnacle West Capital in a research note on Wednesday, June 18th. They now have a $57.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Pinnacle West Capital from $58.00 to $61.00 in a research note on Monday, May 5th.
Shares of Pinnacle West Capital (NYSE:PNW) traded up 0.50% on Tuesday, hitting $56.76. 201,557 shares of the company’s stock traded hands. Pinnacle West Capital has a 1-year low of $51.15 and a 1-year high of $60.33. The stock’s 50-day moving average is $55.01 and its 200-day moving average is $54.20. The company has a market cap of $6.264 billion and a price-to-earnings ratio of 15.78.
Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $686.25 million for the quarter, compared to the consensus estimate of $695.78 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts predict that Pinnacle West Capital will post $3.70 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Investors of record on Friday, August 1st will be given a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Wednesday, July 30th.
Pinnacle West Capital Corporation (NYSE:PNW) is a holding company that conducts business through its subsidiaries.
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