Pinnacle West Capital (NYSE:PNW) Updates 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

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

Pinnacle West Capital Price Performance

Shares of PNW traded up $2.59 during mid-day trading on Friday, reaching $91.81. The company had a trading volume of 1,860,323 shares, compared to its average volume of 1,146,640. The company’s 50-day moving average is $88.34 and its 200-day moving average is $82.61. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.48. The company has a market capitalization 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. Pinnacle West Capital has a twelve month low of $65.20 and a twelve month high of $92.59.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.68 billion. On average, equities analysts anticipate that Pinnacle West Capital will post 4.9 EPS for the current year.

Pinnacle West Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a $0.895 dividend. 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 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.