Wall Street analysts expect Pinnacle West Capital Co. (NYSE:PNW) to report earnings per share of $0.15 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Pinnacle West Capital’s earnings, with the highest EPS estimate coming in at $0.23 and the lowest estimate coming in at $0.05. Pinnacle West Capital reported earnings of $0.21 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 28.6%. The business is expected to announce its next earnings results before the market opens on Wednesday, May 2nd.
On average, analysts expect that Pinnacle West Capital will report full-year earnings of $4.46 per share for the current year, with EPS estimates ranging from $4.45 to $4.48. For the next financial year, analysts expect that the business will report earnings of $4.67 per share, with EPS estimates ranging from $4.58 to $4.75. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Pinnacle West Capital.
Pinnacle West Capital (NYSE:PNW) last released its earnings results on Friday, February 23rd. The utilities provider reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.09. Pinnacle West Capital had a net margin of 13.70% and a return on equity of 9.59%. The firm had revenue of $759.65 million during the quarter, compared to the consensus estimate of $773.12 million. During the same period in the prior year, the firm earned $0.47 EPS. The company’s revenue was up 2.8% compared to the same quarter last year.
PNW has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, March 14th. UBS initiated coverage on shares of Pinnacle West Capital in a research report on Friday, February 2nd. They set a “neutral” rating and a $81.00 target price for the company. Royal Bank of Canada raised shares of Pinnacle West Capital from a “sector perform” rating to an “outperform” rating in a research report on Thursday, March 8th. Williams Capital reissued a “hold” rating and set a $84.00 target price (down from $87.00) on shares of Pinnacle West Capital in a research report on Monday, January 29th. Finally, SunTrust Banks set a $82.00 target price on shares of Pinnacle West Capital and gave the company a “hold” rating in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $84.91.
In related news, VP John S. Hatfield sold 2,145 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $76.14, for a total value of $163,320.30. Following the completion of the transaction, the vice president now directly owns 1,443 shares of the company’s stock, valued at approximately $109,870.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathryn L. Munro sold 2,666 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $75.36, for a total transaction of $200,909.76. Following the completion of the transaction, the director now directly owns 15,630 shares of the company’s stock, valued at $1,177,876.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,110 shares of company stock valued at $5,300,760. 0.53% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in PNW. Dimensional Fund Advisors LP boosted its holdings in Pinnacle West Capital by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 274,348 shares of the utilities provider’s stock valued at $23,200,000 after purchasing an additional 686 shares during the period. Stifel Financial Corp boosted its holdings in Pinnacle West Capital by 33.8% in the 3rd quarter. Stifel Financial Corp now owns 10,990 shares of the utilities provider’s stock valued at $929,000 after purchasing an additional 2,774 shares during the period. Chevy Chase Trust Holdings Inc. boosted its holdings in Pinnacle West Capital by 1.3% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 97,556 shares of the utilities provider’s stock valued at $8,249,000 after purchasing an additional 1,247 shares during the period. Vident Investment Advisory LLC bought a new position in Pinnacle West Capital in the 3rd quarter valued at $595,000. Finally, Highbridge Capital Management LLC bought a new position in Pinnacle West Capital in the 3rd quarter valued at $305,000. 82.65% of the stock is owned by hedge funds and other institutional investors.
Shares of Pinnacle West Capital stock traded up $0.34 on Friday, reaching $80.49. 98,319 shares of the company traded hands, compared to its average volume of 889,705. Pinnacle West Capital has a 52 week low of $73.81 and a 52 week high of $92.48. The company has a market capitalization of $8,864.61, a P/E ratio of 18.23, a P/E/G ratio of 5.99 and a beta of 0.27. The company has a quick ratio of 0.61, a current ratio of 0.85 and a debt-to-equity ratio of 0.93.
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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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