Pinnacle West Capital (NYSE:PNW – Get Rating) will be releasing its earnings data before the market opens on Thursday, May 4th. Analysts expect Pinnacle West Capital to post earnings of $0.13 per share for the quarter. Pinnacle West Capital has set its FY23 guidance at $3.95-4.15 EPS and its FY 2023 guidance at $3.95-$4.15 EPS.Persons interested in listening to the company’s conference call can do so using this link.
Pinnacle West Capital (NYSE:PNW – Get Rating) last posted its earnings results on Monday, February 27th. The utilities provider reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.03). The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $638.28 million. Pinnacle West Capital had a net margin of 11.18% and a return on equity of 7.87%. Pinnacle West Capital’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. On average, analysts expect Pinnacle West Capital to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Pinnacle West Capital Price Performance
Shares of NYSE:PNW opened at $78.99 on Thursday. Pinnacle West Capital has a one year low of $59.03 and a one year high of $81.63. The stock has a market cap of $8.95 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 3.70 and a beta of 0.46. The business’s fifty day moving average price is $77.40 and its two-hundred day moving average price is $74.65. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.99.
Pinnacle West Capital Announces Dividend
Analyst Ratings Changes
Several brokerages have recently issued reports on PNW. StockNews.com began coverage on Pinnacle West Capital in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Bank of America upped their price objective on Pinnacle West Capital from $69.00 to $76.00 in a research report on Thursday, April 6th. Credit Suisse Group upgraded Pinnacle West Capital from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $77.00 to $80.00 in a research report on Tuesday, March 14th. Mizuho reduced their price objective on Pinnacle West Capital from $76.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, March 2nd. Finally, Morgan Stanley upped their price objective on Pinnacle West Capital from $71.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, April 20th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $74.00.
Institutional Investors Weigh In On Pinnacle West Capital
Several institutional investors and hedge funds have recently added to or reduced their stakes in PNW. Norges Bank acquired a new stake in Pinnacle West Capital during the fourth quarter worth about $104,067,000. State Street Corp increased its stake in Pinnacle West Capital by 18.4% during the first quarter. State Street Corp now owns 6,911,753 shares of the utilities provider’s stock worth $539,808,000 after acquiring an additional 1,072,235 shares during the last quarter. Invesco Ltd. increased its stake in Pinnacle West Capital by 29.6% during the first quarter. Invesco Ltd. now owns 3,537,942 shares of the utilities provider’s stock worth $276,313,000 after acquiring an additional 808,207 shares during the last quarter. Captrust Financial Advisors increased its stake in Pinnacle West Capital by 297.6% during the fourth quarter. Captrust Financial Advisors now owns 633,531 shares of the utilities provider’s stock worth $48,174,000 after acquiring an additional 474,174 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Pinnacle West Capital by 1.8% during the first quarter. Vanguard Group Inc. now owns 13,338,202 shares of the utilities provider’s stock worth $1,041,714,000 after acquiring an additional 241,019 shares during the last quarter. 85.21% of the stock is currently owned by institutional investors and hedge funds.
About Pinnacle West Capital
Pinnacle West Capital Corp. is a holding company, which engages in providing energy and energy-related products. It offers regulated retail and wholesale electricity businesses and related activities, such as electricity generation, transmission and distribution through its subsidiary, Arizona Public Service Co The company was founded on February 20, 1985, and is headquartered in Phoenix, AZ.
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