Pinnacle West Capital (NYSE:PNW) Updates FY 2020 Pre-Market Earnings Guidance

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Pinnacle West Capital (NYSE:PNW) updated its FY 2020
Pre-Market earnings guidance on Friday. 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 $4.87. Pinnacle West Capital also updated its FY20 guidance to $4.75-4.95 EPS.

Shares of NYSE PNW traded down $1.19 during mid-day trading on Monday, hitting $102.41. 293,642 shares of the company traded hands, compared to its average volume of 969,913. Pinnacle West Capital has a 1 year low of $84.26 and a 1 year high of $105.51. The stock has a market capitalization of $11.65 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 4.53 and a beta of 0.05. The company has a quick ratio of 0.52, a current ratio of 0.71 and a debt-to-equity ratio of 0.89. The business has a 50 day moving average of $95.80 and a two-hundred day moving average of $92.87.

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

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

PNW has been the topic of several analyst reports. Morgan Stanley lifted their target price on shares of Pinnacle West Capital from $90.00 to $93.00 and gave the stock an underweight rating in a research report on Wednesday, January 29th. Wells Fargo & Co restated a hold rating and issued a $110.00 price target (up previously from $94.00) on shares of Pinnacle West Capital in a research report on Friday. UBS Group decreased their price objective on shares of Pinnacle West Capital from $104.00 to $95.00 and set a neutral rating for the company in a research note on Friday, December 20th. Barclays upgraded shares of Pinnacle West Capital from an equal weight rating to an overweight rating and lowered their price objective for the stock from $103.00 to $98.00 in a research report on Thursday, November 21st. Finally, Credit Suisse Group lifted their price target on Pinnacle West Capital from $97.00 to $106.00 and gave the company an outperform rating in a report on Monday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $98.91.

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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