Pinnacle West Capital (NYSE:PNW) Releases FY20 Earnings Guidance

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Pinnacle West Capital (NYSE:PNW) issued an update on its FY20 earnings guidance on Friday morning. The company provided earnings per share guidance of $4.75-4.95 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.86. Pinnacle West Capital also updated its FY 2020
Pre-Market guidance to 4.75-4.95 EPS.

PNW stock traded down $1.19 during trading on Monday, reaching $102.41. 293,642 shares of the stock were exchanged, compared to its average volume of 969,913. The company has a current ratio of 0.71, a quick ratio of 0.52 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $11.65 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 4.53 and a beta of 0.05. The business has a 50 day moving average price of $95.80 and a 200-day moving average price of $92.87. Pinnacle West Capital has a 1 year low of $84.26 and a 1 year high of $105.51.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.10. The business had revenue of $670.40 million during the quarter, compared to the consensus estimate of $783.63 million. Pinnacle West Capital had a net margin of 15.51% and a return on equity of 9.83%. The business’s revenue was down 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 EPS. On average, research analysts anticipate that Pinnacle West Capital will post 4.85 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 3rd will be paid a $0.7825 dividend. This represents a $3.13 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, January 31st. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 65.62%.

A number of research firms have recently weighed in on PNW. Bank of America reiterated a hold rating and set a $97.00 price target on shares of Pinnacle West Capital in a report on Wednesday, January 22nd. UBS Group dropped their target price on shares of Pinnacle West Capital from $104.00 to $95.00 and set a neutral rating for the company in a report on Friday, December 20th. Morgan Stanley boosted their target price on Pinnacle West Capital from $90.00 to $93.00 and gave the company an underweight rating in a research report on Wednesday, January 29th. Barclays upgraded Pinnacle West Capital from an equal weight rating to an overweight rating and decreased their price target for the stock from $103.00 to $98.00 in a research note on Thursday, November 21st. Finally, Credit Suisse Group raised their price target on Pinnacle West Capital from $97.00 to $106.00 and gave the stock an outperform rating in a research report on Monday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Pinnacle West Capital currently has an average rating of Hold and a consensus target price of $98.91.

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 generating facilities. The company serves approximately 1.2 million customers.

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