Brokerages Anticipate Pinnacle West Capital Co. (PNW) to Post $0.21 Earnings Per Share

Wall Street analysts expect Pinnacle West Capital Co. (NYSE:PNW) to report earnings per share of $0.21 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Pinnacle West Capital’s earnings. The lowest EPS estimate is $0.14 and the highest is $0.31. Pinnacle West Capital reported earnings per share of $0.19 in the same quarter last year, which would suggest a positive year over year growth rate of 10.5%. The firm is expected to report its next earnings report on Friday, February 22nd.

According to Zacks, analysts expect that Pinnacle West Capital will report full year earnings of $4.48 per share for the current financial year, with EPS estimates ranging from $4.45 to $4.50. For the next financial year, analysts anticipate that the company will report earnings of $4.80 per share, with EPS estimates ranging from $4.69 to $4.85. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Pinnacle West Capital.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Thursday, November 8th. The utilities provider reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.05. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. Pinnacle West Capital had a return on equity of 9.68% and a net margin of 13.71%. Pinnacle West Capital’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $2.46 earnings per share.

A number of analysts recently issued reports on PNW shares. Zacks Investment Research downgraded Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Barclays started coverage on Pinnacle West Capital in a research report on Monday, October 22nd. They issued a “hold” rating and a $86.00 price target for the company. SunTrust Banks raised their price target on Pinnacle West Capital to $90.00 and gave the stock an “average” rating in a research report on Friday, November 9th. They noted that the move was a valuation call. Wells Fargo & Co reiterated a “buy” rating on shares of Pinnacle West Capital in a research report on Thursday, November 8th. Finally, Morgan Stanley decreased their target price on Pinnacle West Capital from $89.00 to $85.00 and set a “hold” rating for the company in a research report on Friday, September 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Pinnacle West Capital has a consensus rating of “Hold” and a consensus target price of $86.00.

PNW traded down $0.01 during trading on Friday, reaching $90.78. The company had a trading volume of 754,132 shares, compared to its average volume of 1,009,341. The company has a market cap of $10.18 billion, a PE ratio of 20.87, a P/E/G ratio of 4.53 and a beta of 0.08. Pinnacle West Capital has a 52 week low of $73.41 and a 52 week high of $91.37. The company has a quick ratio of 0.52, a current ratio of 0.70 and a debt-to-equity ratio of 0.82.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Thursday, November 1st were given a dividend of $0.7375 per share. This represents a $2.95 annualized dividend and a dividend yield of 3.25%. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.70. The ex-dividend date was Wednesday, October 31st. Pinnacle West Capital’s dividend payout ratio (DPR) is 67.82%.

In other news, VP Denise R. Danner sold 3,320 shares of Pinnacle West Capital stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $88.78, for a total transaction of $294,749.60. Following the completion of the sale, the vice president now directly owns 8,759 shares in the company, valued at $777,624.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Donald E. Brandt sold 15,876 shares of Pinnacle West Capital stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $88.59, for a total value of $1,406,454.84. Following the sale, the chairman now owns 77,310 shares of the company’s stock, valued at $6,848,892.90. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Marshall Wace LLP purchased a new position in shares of Pinnacle West Capital during the third quarter valued at $258,000. Vanguard Group Inc. increased its stake in shares of Pinnacle West Capital by 1.3% during the third quarter. Vanguard Group Inc. now owns 12,162,967 shares of the utilities provider’s stock valued at $963,063,000 after buying an additional 155,601 shares during the period. Morgan Stanley increased its stake in shares of Pinnacle West Capital by 13.0% during the third quarter. Morgan Stanley now owns 358,544 shares of the utilities provider’s stock valued at $28,389,000 after buying an additional 41,383 shares during the period. Legal & General Group Plc increased its stake in shares of Pinnacle West Capital by 4.0% during the third quarter. Legal & General Group Plc now owns 1,135,033 shares of the utilities provider’s stock valued at $89,865,000 after buying an additional 43,880 shares during the period. Finally, Standard Life Aberdeen plc increased its stake in shares of Pinnacle West Capital by 6.6% during the third quarter. Standard Life Aberdeen plc now owns 46,243 shares of the utilities provider’s stock valued at $3,661,000 after buying an additional 2,848 shares during the period. Hedge funds and other institutional investors own 82.42% of the company’s stock.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar resources. The company serves approximately 1.2 million homes and businesses.

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