SunTrust Raises Pinnacle West Capital Price Target to $61.00 (PNW)
Stock analysts at SunTrust boosted their price objective on shares of Pinnacle West Capital (NYSE:PNW) from $60.00 to $61.00 in a report issued on Tuesday. SunTrust’s price target points to a potential upside of 7.11% from the stock’s previous close.
PNW has been the subject of a number of other recent research reports. Analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Pinnacle West Capital in a research note on Tuesday, August 26th. They now have a $58.00 price target on the stock, up previously from $56.00. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Pinnacle West Capital in a research note on Wednesday, July 23rd. They now have a $62.00 price target on the stock, up previously from $59.00. Finally, analysts at CRT Capital reiterated a “fairly valued” rating on shares of Pinnacle West Capital in a research note on Monday, July 21st. They now have a $58.00 price target on the stock, up previously from $55.00. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Pinnacle West Capital has an average rating of “Hold” and an average price target of $59.86.
Shares of Pinnacle West Capital (NYSE:PNW) traded down 1.19% on Tuesday, hitting $56.27. 233,317 shares of the company’s stock traded hands. Pinnacle West Capital has a 52-week low of $51.15 and a 52-week high of $58.70. The stock has a 50-day moving average of $55. and a 200-day moving average of $55.18. The company has a market cap of $6.213 billion and a P/E ratio of 15.82.
Pinnacle West Capital (NYSE:PNW) last released its earnings data on Thursday, July 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $906.26 million for the quarter, compared to the consensus estimate of $931.65 million. During the same quarter in the previous year, the company posted $1.18 earnings per share. The company’s revenue for the quarter was down 1.0% 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.
Pinnacle West Capital Corporation (NYSE:PNW) is a holding company that conducts business through its subsidiaries.
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