Brokerages Expect Pinnacle West Capital Co. (NYSE:PNW) Will Post Earnings of $0.47 Per Share

Equities research analysts forecast that Pinnacle West Capital Co. (NYSE:PNW) will announce earnings per share (EPS) of $0.47 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Pinnacle West Capital’s earnings, with the lowest EPS estimate coming in at $0.44 and the highest estimate coming in at $0.49. Pinnacle West Capital posted earnings of $0.23 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 104.3%. The firm is expected to issue its next earnings results before the market opens on Friday, February 21st.

On average, analysts expect that Pinnacle West Capital will report full-year earnings of $4.68 per share for the current year, with EPS estimates ranging from $4.65 to $4.70. For the next financial year, analysts anticipate that the company will post earnings of $4.85 per share, with EPS estimates ranging from $4.84 to $4.87. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Pinnacle West Capital.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Thursday, November 7th. The utilities provider reported $2.77 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.00 by ($0.23). Pinnacle West Capital had a net margin of 14.07% and a return on equity of 9.19%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the firm earned $2.80 EPS. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year.

Several analysts have issued reports on PNW shares. Bank of America reaffirmed a “hold” rating and issued a $97.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, January 22nd. Barclays raised Pinnacle West Capital from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $103.00 to $98.00 in a research note on Thursday, November 21st. UBS Group cut their target price on Pinnacle West Capital from $104.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Credit Suisse Group upped their target price on Pinnacle West Capital from $101.00 to $108.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Finally, Zacks Investment Research downgraded Pinnacle West Capital from a “hold” rating to a “sell” rating and set a $99.00 price objective for the company. in a research report on Friday, October 18th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Pinnacle West Capital presently has a consensus rating of “Hold” and an average target price of $98.09.

Shares of NYSE PNW traded up $0.52 during midday trading on Friday, hitting $97.57. 412,290 shares of the company’s stock were exchanged, compared to its average volume of 768,018. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 4.25 and a beta of 0.05. The business’s fifty day moving average price is $90.53 and its two-hundred day moving average price is $92.12. The company has a current ratio of 0.71, a quick ratio of 0.52 and a debt-to-equity ratio of 0.89. Pinnacle West Capital has a 12-month low of $84.26 and a 12-month high of $99.81.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 3rd will be issued a dividend of $0.7825 per share. The ex-dividend date is Friday, January 31st. This represents a $3.13 dividend on an annualized basis and a dividend yield of 3.21%. Pinnacle West Capital’s dividend payout ratio is presently 68.94%.

In related news, VP Barbara D. Lockwood sold 1,750 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $86.19, for a total transaction of $150,832.50. Following the completion of the transaction, the vice president now owns 1,646 shares in the company, valued at $141,868.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake in Pinnacle West Capital by 26.2% in the fourth quarter. SG Americas Securities LLC now owns 92,504 shares of the utilities provider’s stock worth $8,319,000 after purchasing an additional 19,231 shares during the period. Retirement Systems of Alabama grew its stake in Pinnacle West Capital by 590.7% in the fourth quarter. Retirement Systems of Alabama now owns 339,703 shares of the utilities provider’s stock worth $30,549,000 after purchasing an additional 290,524 shares during the period. EFG Asset Management Americas Corp. grew its stake in Pinnacle West Capital by 182.8% in the fourth quarter. EFG Asset Management Americas Corp. now owns 11,181 shares of the utilities provider’s stock worth $1,006,000 after purchasing an additional 7,228 shares during the period. World Asset Management Inc grew its stake in Pinnacle West Capital by 1.7% in the fourth quarter. World Asset Management Inc now owns 7,867 shares of the utilities provider’s stock worth $707,000 after purchasing an additional 130 shares during the period. Finally, Dupont Capital Management Corp grew its stake in Pinnacle West Capital by 35.0% in the fourth quarter. Dupont Capital Management Corp now owns 4,525 shares of the utilities provider’s stock worth $407,000 after purchasing an additional 1,173 shares during the period. Institutional investors own 85.76% 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 generating facilities. The company serves approximately 1.2 million customers.

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