Pinnacle West Capital (PNW) Releases FY19 Earnings Guidance

Pinnacle West Capital (NYSE:PNW) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.75-4.95 for the period, compared to the Thomson Reuters consensus estimate of $4.74. Pinnacle West Capital also updated its FY18 guidance to $1.35-4.55 EPS.

Shares of NYSE:PNW opened at $85.39 on Thursday. The company has a market capitalization of $9.48 billion, a P/E ratio of 19.63, a PEG ratio of 4.24 and a beta of 0.04. Pinnacle West Capital has a fifty-two week low of $73.41 and a fifty-two week high of $92.48. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.36 and a current ratio of 0.50.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 1st will be issued a $0.7375 dividend. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.70. The ex-dividend date is Wednesday, October 31st. This represents a $2.95 annualized dividend and a yield of 3.45%. Pinnacle West Capital’s dividend payout ratio (DPR) is 67.82%.

PNW has been the topic of several analyst reports. Wells Fargo & Co reduced their target price on shares of Pinnacle West Capital from $90.00 to $87.00 and set a buy rating on the stock in a report on Sunday, September 30th. Credit Suisse Group raised their target price on shares of Pinnacle West Capital from $87.00 to $88.00 and gave the company an outperform rating in a report on Friday, October 12th. Goldman Sachs Group raised shares of Pinnacle West Capital from a neutral rating to a buy rating in a report on Thursday, October 18th. Morgan Stanley raised their target price on shares of Pinnacle West Capital from $78.00 to $85.00 and gave the company a hold rating in a report on Monday, July 16th. Finally, Barclays initiated coverage on shares of Pinnacle West Capital in a report on Monday, October 22nd. They issued a hold rating and a $86.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Pinnacle West Capital has an average rating of Hold and an average price target of $84.20.

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

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