Pinnacle West Capital (NYSE:PNW) Updates FY 2024 Earnings Guidance

Pinnacle West Capital (NYSE:PNW) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 5.000-5.200 for the period, compared to the consensus EPS estimate of 4.920. The company issued revenue guidance of -. Pinnacle West Capital also updated its FY 2025 guidance to 4.400-4.600 EPS.

Wall Street Analysts Forecast Growth

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

Pinnacle West Capital Stock Up 2.9 %

PNW stock traded up $2.59 during midday trading on Friday, hitting $91.81. The company’s stock had a trading volume of 1,860,323 shares, compared to its average volume of 1,146,640. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.48. Pinnacle West Capital has a twelve month low of $65.20 and a twelve month high of $92.59. The company’s fifty day moving average price is $88.34 and its 200 day moving average price is $82.61. The stock has a market capitalization of $10.43 billion, a P/E ratio of 16.90, a PEG ratio of 2.13 and a beta of 0.52.

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

Pinnacle West Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, November 4th. This is a positive change 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%. Pinnacle West Capital’s payout ratio is currently 67.80%.

Pinnacle West Capital Company Profile

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.