Pinnacle West Capital Co. (NYSE:PNW) Expected to Announce Earnings of $3.01 Per Share

Wall Street brokerages forecast that Pinnacle West Capital Co. (NYSE:PNW) will post earnings per share of $3.01 for the current quarter, Zacks reports. Zero analysts have issued estimates for Pinnacle West Capital’s earnings, with estimates ranging from $2.85 to $3.26. Pinnacle West Capital posted earnings of $2.80 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, November 7th.

According to Zacks, analysts expect that Pinnacle West Capital will report full year earnings of $4.76 per share for the current fiscal year, with EPS estimates ranging from $4.75 to $4.79. For the next fiscal year, analysts anticipate that the firm will report earnings of $4.99 per share, with EPS estimates ranging from $4.88 to $5.05. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Pinnacle West Capital.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Thursday, August 8th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by ($0.15). Pinnacle West Capital had a return on equity of 9.33% and a net margin of 13.84%. The company had revenue of $869.50 million during the quarter, compared to the consensus estimate of $973.16 million. During the same quarter in the prior year, the business earned $1.48 earnings per share. The firm’s revenue for the quarter was down 10.7% on a year-over-year basis.

Several research analysts have recently issued reports on the company. Williams Capital restated a “hold” rating and issued a $97.00 price target (up from $87.00) on shares of Pinnacle West Capital in a research report on Monday, August 12th. ValuEngine lowered Pinnacle West Capital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Co reaffirmed a “hold” rating on shares of Pinnacle West Capital in a research note on Friday, August 9th. Evercore ISI downgraded Pinnacle West Capital from an “in-line” rating to an “underperform” rating in a research note on Friday, August 9th. Finally, SunTrust Banks dropped their price objective on Pinnacle West Capital from $99.00 to $98.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $98.25.

Institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. raised its stake in shares of Pinnacle West Capital by 274.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 15,460 shares of the utilities provider’s stock valued at $1,478,000 after purchasing an additional 11,332 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Pinnacle West Capital by 9.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 8,442 shares of the utilities provider’s stock valued at $707,000 after purchasing an additional 716 shares during the period. Cigna Investments Inc. New raised its stake in shares of Pinnacle West Capital by 36.0% in the 1st quarter. Cigna Investments Inc. New now owns 4,453 shares of the utilities provider’s stock valued at $425,000 after purchasing an additional 1,179 shares during the period. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Pinnacle West Capital by 0.9% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 17,042 shares of the utilities provider’s stock valued at $1,629,000 after purchasing an additional 155 shares during the period. Finally, Norinchukin Bank The raised its stake in shares of Pinnacle West Capital by 3.9% in the 1st quarter. Norinchukin Bank The now owns 21,284 shares of the utilities provider’s stock valued at $2,034,000 after purchasing an additional 796 shares during the period. 88.10% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:PNW traded down $0.68 during midday trading on Wednesday, hitting $94.90. The company had a trading volume of 11,063 shares, compared to its average volume of 991,475. Pinnacle West Capital has a 12 month low of $80.22 and a 12 month high of $99.81. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.92. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 3.35 and a beta of 0.10. The firm has a fifty day simple moving average of $95.44 and a 200 day simple moving average of $94.95.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar generating facilities. The company serves approximately 1.2 million customers.

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Earnings History and Estimates for Pinnacle West Capital (NYSE:PNW)

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