Pinnacle West Capital (PNW) Issues FY 2018 Earnings Guidance

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

PNW stock traded up $0.41 during trading on Friday, reaching $87.97. 112,615 shares of the stock traded hands, compared to its average volume of 1,122,124. Pinnacle West Capital has a 52-week low of $73.41 and a 52-week high of $92.48. The company has a current ratio of 0.50, a quick ratio of 0.36 and a debt-to-equity ratio of 0.81. The company has a market cap of $9.48 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 4.24 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 Zacks’ consensus estimate of $2.75 by $0.05. Pinnacle West Capital had a return on equity of 9.12% and a net margin of 12.95%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business earned $2.46 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts forecast that Pinnacle West Capital will post 4.47 EPS for the current fiscal year.

The company 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 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Wednesday, October 31st. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.70. Pinnacle West Capital’s payout ratio is 67.82%.

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