Pinnacle West Capital (PNW) Releases FY18 Earnings Guidance

Pinnacle West Capital (NYSE:PNW) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.35-4.55 for the period, compared to the Thomson Reuters consensus estimate of $4.48. Pinnacle West Capital also updated its FY 2018 guidance to $4.35-4.55 EPS.

Shares of PNW stock traded up $0.33 on Friday, reaching $87.90. 429,403 shares of the company were exchanged, compared to its average volume of 1,122,124. The stock has a market capitalization of $9.48 billion, a P/E ratio of 20.21, a P/E/G ratio of 4.24 and a beta of 0.04. The company has a quick ratio of 0.36, a current ratio of 0.50 and a debt-to-equity ratio of 0.81. Pinnacle West Capital has a 1 year low of $73.41 and a 1 year high of $92.48.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Thursday, November 8th. The utilities provider reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.08. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Pinnacle West Capital had a net margin of 12.95% and a return on equity of 9.12%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.46 earnings per share. On average, analysts expect that Pinnacle West Capital will post 4.47 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 1st will be paid a dividend of $0.7375 per share. The ex-dividend date is Wednesday, October 31st. This represents a $2.95 dividend on an annualized basis and a dividend yield of 3.36%. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.70. Pinnacle West Capital’s payout ratio is currently 67.82%.

Several brokerages recently issued reports on PNW. SunTrust Banks upped their price objective on shares of Pinnacle West Capital to $90.00 and gave the company an average rating in a research note on Friday. They noted that the move was a valuation call. Wells Fargo & Co raised shares of Pinnacle West Capital to a buy rating and upped their price objective for the company from $88.00 to $90.00 in a research note on Sunday, September 16th. Goldman Sachs Group raised shares of Pinnacle West Capital from a neutral rating to a buy rating in a research note on Thursday, October 18th. ValuEngine raised shares of Pinnacle West Capital from a hold rating to a buy rating in a research note on Wednesday, October 24th. Finally, Morgan Stanley upped their price objective on shares of Pinnacle West Capital from $78.00 to $85.00 and gave the company a hold rating in a research note on Monday, July 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $85.00.

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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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