Pinnacle West Capital (NYSE:PNW) Issues FY 2019 Earnings Guidance

Pinnacle West Capital (NYSE:PNW) updated its FY 2019 earnings guidance on Thursday. The company provided EPS guidance of $4.75-4.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.81. Pinnacle West Capital also updated its FY19 guidance to $4.75-4.95 EPS.

A number of research analysts have recently commented on the stock. SunTrust Banks decreased their price objective on shares of Pinnacle West Capital from $99.00 to $98.00 and set a hold rating for the company in a research report on Friday. Morgan Stanley downgraded shares of Pinnacle West Capital from an equal weight rating to an underweight rating and decreased their price objective for the company from $98.00 to $90.00 in a research report on Wednesday, June 12th. Evercore ISI downgraded shares of Pinnacle West Capital from an in-line rating to an underperform rating in a research report on Friday. Zacks Investment Research raised shares of Pinnacle West Capital from a hold rating to a buy rating and set a $108.00 price objective for the company in a research report on Monday, May 20th. Finally, ValuEngine downgraded shares of Pinnacle West Capital from a buy rating to a hold rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Pinnacle West Capital presently has an average rating of Hold and an average target price of $95.82.

Shares of PNW stock traded down $0.34 during midday trading on Friday, hitting $92.44. 1,274,329 shares of the company were exchanged, compared to its average volume of 1,017,805. The stock has a market cap of $10.42 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 3.80 and a beta of 0.15. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 0.92. The firm has a 50 day moving average price of $93.95. Pinnacle West Capital has a 52 week low of $77.19 and a 52 week high of $99.81.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Thursday, August 8th. The utilities provider reported $1.28 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.15). The company had revenue of $869.50 million for the quarter, compared to the consensus estimate of $973.16 million. Pinnacle West Capital had a return on equity of 9.31% and a net margin of 13.84%. The business’s quarterly revenue was down 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.48 EPS. As a group, equities research analysts predict that Pinnacle West Capital will post 4.75 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be issued a dividend of $0.738 per share. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $2.95 annualized dividend and a dividend yield of 3.19%. Pinnacle West Capital’s payout ratio is presently 64.98%.

In related news, Director Michael L. Gallagher sold 5,000 shares of Pinnacle West Capital stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $95.90, for a total transaction of $479,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.41% of the company’s stock.

Pinnacle West Capital Company Profile

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

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