Equities research analysts predict that Pinnacle West Capital Corporation (NYSE:PNW) will report earnings per share of $2.40 for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Pinnacle West Capital Corporation’s earnings, with the highest EPS estimate coming in at $2.54 and the lowest estimate coming in at $2.23. Pinnacle West Capital Corporation posted earnings of $2.35 per share during the same quarter last year, which would indicate a positive year over year growth rate of 2.1%. The business is scheduled to announce its next earnings report on Thursday, November 2nd.

On average, analysts expect that Pinnacle West Capital Corporation will report full-year earnings of $4.26 per share for the current financial year, with EPS estimates ranging from $4.18 to $4.42. For the next year, analysts forecast that the firm will post earnings of $4.48 per share, with EPS estimates ranging from $4.40 to $4.64. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Pinnacle West Capital Corporation.

Pinnacle West Capital Corporation (NYSE:PNW) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.33. Pinnacle West Capital Corporation had a net margin of 14.37% and a return on equity of 10.20%. The company had revenue of $944.59 million during the quarter, compared to the consensus estimate of $921.79 million. During the same period in the previous year, the firm earned $1.08 earnings per share. Pinnacle West Capital Corporation’s revenue for the quarter was up 3.2% on a year-over-year basis.

Several brokerages recently weighed in on PNW. BidaskClub lowered shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. BMO Capital Markets reaffirmed a “hold” rating and set a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research report on Friday. Royal Bank Of Canada reaffirmed a “hold” rating and set a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research report on Monday, July 24th. Morgan Stanley cut their price objective on shares of Pinnacle West Capital Corporation from $83.00 to $82.00 and set an “underweight” rating on the stock in a research report on Monday, May 8th. Finally, Zacks Investment Research raised shares of Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. One analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $81.78.

Pinnacle West Capital Corporation (NYSE PNW) traded up 0.16% during midday trading on Tuesday, reaching $88.73. 720,050 shares of the company’s stock traded hands. The company’s 50-day moving average price is $86.48 and its 200 day moving average price is $83.91. Pinnacle West Capital Corporation has a 52 week low of $70.86 and a 52 week high of $89.56. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of 21.55 and a beta of 0.37.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st will be issued a dividend of $0.655 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $2.62 annualized dividend and a yield of 2.95%. Pinnacle West Capital Corporation’s dividend payout ratio (DPR) is presently 57.96%.

In other Pinnacle West Capital Corporation news, SVP Barbara M. Gomez sold 1,900 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $84.00, for a total transaction of $159,600.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Denis A. Cortese sold 1,776 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $83.85, for a total value of $148,917.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,476 shares of company stock worth $552,986. Corporate insiders own 0.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in shares of Pinnacle West Capital Corporation by 5.6% in the second quarter. Principal Financial Group Inc. now owns 206,647 shares of the utilities provider’s stock valued at $17,598,000 after buying an additional 10,888 shares during the period. Keybank National Association OH increased its position in shares of Pinnacle West Capital Corporation by 84.3% in the second quarter. Keybank National Association OH now owns 5,197 shares of the utilities provider’s stock valued at $443,000 after buying an additional 2,377 shares during the period. Mirador Capital Partners LP increased its position in shares of Pinnacle West Capital Corporation by 7.7% in the second quarter. Mirador Capital Partners LP now owns 3,147 shares of the utilities provider’s stock valued at $277,000 after buying an additional 224 shares during the period. OMERS ADMINISTRATION Corp bought a new position in shares of Pinnacle West Capital Corporation during the second quarter valued at approximately $1,566,000. Finally, Pacer Advisors Inc. increased its position in shares of Pinnacle West Capital Corporation by 8.3% in the second quarter. Pacer Advisors Inc. now owns 2,270 shares of the utilities provider’s stock valued at $193,000 after buying an additional 174 shares during the period. Institutional investors own 83.02% of the company’s stock.

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Pinnacle West Capital Corporation Company Profile

Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.

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Earnings History and Estimates for Pinnacle West Capital Corporation (NYSE:PNW)

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