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 earnings per share (EPS) guidance of 5.000-5.200 for the period, compared to the consensus 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.

Analyst Ratings Changes

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

Pinnacle West Capital Trading 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 stock were exchanged, compared to its average volume of 1,146,640. Pinnacle West Capital has a 12 month low of $65.20 and a 12 month high of $92.59. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The firm’s fifty day simple moving average is $88.34 and its two-hundred day simple moving average is $82.61. The stock has a market capitalization of $10.43 billion, a price-to-earnings 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 for the quarter, topping analysts’ consensus estimates of $3.35 by $0.02. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.68 billion. Analysts forecast that Pinnacle West Capital will post 4.9 EPS for the current year.

Pinnacle West Capital Increases Dividend

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