Pinnacle West Capital (NYSE:PNW) Releases FY25 Earnings Guidance

Pinnacle West Capital (NYSE:PNW) issued an update on its FY25 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.40-4.60 for the period, compared to the consensus estimate of $4.74. Pinnacle West Capital also updated its FY 2024 guidance to 5.000-5.200 EPS.

Analysts Set New Price Targets

PNW has been the topic of a number of research analyst reports. StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Morgan Stanley lifted their target price on Pinnacle West Capital from $78.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company increased their price target on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Jefferies Financial Group started coverage on shares of Pinnacle West Capital in a research report on Thursday, September 19th. They set a “buy” rating and a $104.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Pinnacle West Capital presently has an average rating of “Hold” and an average price target of $80.96.

Pinnacle West Capital Stock Up 2.9 %

Pinnacle West Capital stock traded up $2.59 during mid-day trading on Friday, hitting $91.81. 1,860,323 shares of the company’s stock were exchanged, compared to its average volume of 1,146,640. Pinnacle West Capital has a 1-year low of $65.20 and a 1-year high of $92.59. The stock has a 50 day moving average of $88.34 and a two-hundred day moving average of $82.61. The stock has a market cap of $10.43 billion, a P/E ratio of 16.90, a P/E/G ratio of 2.13 and a beta of 0.52. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 1.28.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.35 by $0.02. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.68 billion. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. As a group, analysts anticipate that Pinnacle West Capital will post 4.9 EPS for the current fiscal year.

Pinnacle West Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a dividend of $0.895 per share. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.88. This represents a $3.58 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Monday, November 4th. Pinnacle West Capital’s dividend payout ratio is currently 67.80%.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.