$957.14 million in sales expected for Pinnacle West Capital Co. (NYSE:PNW) this quarter
Wall Street analysts expect Pinnacle West Capital Co. (NYSE:PNW – Get a rating) to announce sales of $957.14 million for the current quarter, according to Zacks. Two analysts provided earnings estimates for Pinnacle West Capital, with the highest sales estimate of $957.80 million and the lowest estimate of $956.48 million. Pinnacle West Capital posted sales of $1.00 billion in the same quarter last year, which would indicate a negative growth rate of 4.3% year over year. The company is expected to release its next earnings report on Monday, January 1.
According to Zacks, analysts expect Pinnacle West Capital to report annual revenue of $3.79 billion in the current fiscal year, with estimates ranging from $3.75 billion to $3.82 billion. . For the next fiscal year, analysts expect the company to post sales of $3.91 billion, with estimates ranging from $3.89 billion to $3.93 billion. Zacks Investment Research sales averages are an average average based on a survey of analysts who track Pinnacle West Capital.
West Pinnacle Capital (NYSE:PNW – Get a rating) last announced its quarterly results on Wednesday, May 4. The utility provider reported EPS of $0.15 for the quarter, beating the consensus estimate of $0.07 by $0.08. The company posted revenue of $783.53 million for the quarter, versus analyst estimates of $692.73 million. Pinnacle West Capital posted a net margin of 15.42% and a return on equity of 9.96%. The company’s revenue increased 12.5% year over year. In the same period a year earlier, the company posted earnings per share of $0.32.
Several brokerages have commented on PNW. StockNews.com began covering Pinnacle West Capital shares in a research note on Thursday, March 31. They issued a “holding” rating on the stock. Morgan Stanley lowered its price target on Pinnacle West Capital shares from $77.00 to $75.00 and set an “equal weight” rating on the stock in a Tuesday, April 26 research note. Credit Suisse Group assumed coverage for Pinnacle West Capital shares in a Monday, April 25 research report. They set an “underperform” rating and a target price of $73.00 on the stock. Mizuho raised its price target on Pinnacle West Capital shares from $72.00 to $74.00 and gave the stock a “neutral” rating in a Thursday, March 10 research report. Finally, Barclays downgraded shares of Pinnacle West Capital from an “equal weight” rating to an “underweight” rating and raised its target price for the stock from $72.00 to $78.00 in a research report from Tuesday, April 19. Seven analysts gave the stock a sell rating, five issued a hold rating and two issued a buy rating. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.32.
Shares of Pinnacle West Capital Stock opened at $74.25 on Tuesday. The stock has a market capitalization of $8.39 billion, a price-earnings ratio of 14.01 and a beta of 0.32. Pinnacle West Capital has a 52-week low of $62.78 and a 52-week high of $88.54. The company has a debt ratio of 1.19, a current ratio of 1.00 and a quick ratio of 0.67. The company has a 50-day moving average of $75.48.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 1. Shareholders of record on Monday, May 2 will receive a dividend of $0.85. This represents a dividend of $3.40 on an annualized basis and a yield of 4.58%. The ex-dividend date is Friday, April 29. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 64.15%.
Institutional investors have recently increased or reduced their stake in the company. Carroll Financial Associates Inc. increased its position in Pinnacle West Capital shares by 18,150.0% in the fourth quarter. Carroll Financial Associates Inc. now owns 365 shares of the utility provider valued at $25,000 after buying 363 more shares last quarter. National Bank of Canada FI bought a new stock position in Pinnacle West Capital in the fourth quarter worth $25,000. Carolinas Wealth Consulting LLC increased its position in Pinnacle West Capital shares by 9,200.0% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 372 shares of the utility provider valued at $26,000 after buying 368 additional shares last quarter. City State Bank bought a new stock position in Pinnacle West Capital in the fourth quarter worth $26,000. Finally, Retirement Group LLC bought a new stock position in Pinnacle West Capital in the fourth quarter worth $28,000. 80.89% of the shares are held by institutional investors.
Company Profile Pinnacle West Capital (Get a rating)
Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electrical services primarily in the State of Arizona. The company is engaged in the generation, transmission and distribution of electricity using coal, nuclear, gas, oil and solar power generation facilities.
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