Pinnacle West Capital (PNW) Updates FY 2018 Earnings Guidance

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

Several brokerages recently issued reports on PNW. ValuEngine lowered shares of Pinnacle West Capital from a buy rating to a hold rating in a research report on Thursday, November 1st. Williams Capital upped their target price on shares of Pinnacle West Capital from $80.00 to $84.00 and gave the stock a hold rating in a research report on Monday, October 15th. Barclays began coverage on shares of Pinnacle West Capital in a research report on Monday, October 22nd. They issued a hold rating and a $86.00 target price for the company. Wells Fargo & Co upgraded shares of Pinnacle West Capital from a market perform rating to an outperform rating in a research report on Monday, August 6th. Finally, Goldman Sachs Group upgraded shares of Pinnacle West Capital from a neutral rating to a buy rating in a research report on Thursday, October 18th. One equities research 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. The company presently has an average rating of Hold and an average target price of $85.00.

NYSE PNW opened at $88.47 on Friday. 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 12-month low of $73.41 and a 12-month high of $92.48. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 4.27 and a beta of 0.04.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Thursday, November 8th. The utilities provider reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.05. Pinnacle West Capital had a net margin of 12.95% and a return on equity of 9.12%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. Sell-side analysts predict that Pinnacle West Capital will post 4.47 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 1st will be given a dividend of $0.7375 per share. This represents a $2.95 annualized dividend and a yield of 3.33%. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.70. The ex-dividend date is Wednesday, October 31st. Pinnacle West Capital’s dividend payout ratio is presently 67.82%.

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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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