Pinnacle West Capital (NYSE:PNW) Posts Quarterly Earnings Results, Misses Estimates By $0.23 EPS

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Pinnacle West Capital (NYSE:PNW) posted its quarterly earnings results on Thursday. The utilities provider reported $2.77 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($0.23), Briefing.com reports. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.25 billion. Pinnacle West Capital had a return on equity of 9.33% and a net margin of 13.84%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.80 EPS. Pinnacle West Capital updated its FY20 guidance to $4.75-4.95 EPS.

Shares of NYSE PNW opened at $86.39 on Friday. The business has a 50-day simple moving average of $94.82 and a two-hundred day simple moving average of $94.68. Pinnacle West Capital has a 52 week low of $81.63 and a 52 week high of $99.81. The company has a market cap of $10.19 billion, a P/E ratio of 19.03, a P/E/G ratio of 3.11 and a beta of 0.06. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.92.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be paid a $0.7825 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.13 annualized dividend and a yield of 3.62%. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.74. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 68.94%.

Several research analysts have recently weighed in on PNW shares. Williams Capital reiterated a “hold” rating and set a $97.00 price target (up previously from $87.00) on shares of Pinnacle West Capital in a research note on Monday, August 12th. Bank of America downgraded Pinnacle West Capital from a “buy” rating to a “neutral” rating and set a $90.00 price target for the company. in a research note on Friday. Wells Fargo & Co reiterated a “hold” rating on shares of Pinnacle West Capital in a research note on Friday, August 9th. Morgan Stanley cut their price target on Pinnacle West Capital from $95.00 to $87.00 and set an “underweight” rating for the company in a research note on Friday. Finally, Argus upgraded Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research note on Tuesday, July 30th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Pinnacle West Capital currently has an average rating of “Hold” and an average target price of $95.83.

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 for Pinnacle West Capital (NYSE:PNW)

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