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

Pinnacle West Capital (NYSE:PNW) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 5.000-5.200 for the period, compared to the consensus earnings per share 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.

Pinnacle West Capital Trading Up 2.9 %

Shares of Pinnacle West Capital stock traded up $2.59 on Friday, hitting $91.81. 1,860,323 shares of the company traded hands, compared to its average volume of 1,146,640. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 1.28. The company has a market cap of $10.43 billion, a PE ratio of 16.90, a PEG ratio of 2.13 and a beta of 0.52. The stock’s 50 day moving average price is $88.34 and its 200-day moving average price is $82.61. Pinnacle West Capital has a 52 week low of $65.20 and a 52 week high of $92.59.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Wednesday, November 6th. The utilities provider reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.35 by $0.02. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. Equities research analysts predict 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. Shareholders of record on Monday, November 4th will be issued a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a 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%.

Wall Street Analysts Forecast Growth

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

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.