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 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.

Wall Street Analyst Weigh In

Several research firms have weighed in on PNW. Morgan Stanley lifted their target price on Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Wells Fargo & Company upped 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. StockNews.com raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Jefferies Financial Group assumed coverage on Pinnacle West Capital in a research note on Thursday, September 19th. They issued a “buy” rating and a $104.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $80.96.

Pinnacle West Capital Stock Performance

NYSE:PNW traded up $2.59 during mid-day trading on Friday, hitting $91.81. The stock had a trading volume of 1,860,323 shares, compared to its average volume of 1,146,640. Pinnacle West Capital has a twelve month low of $65.20 and a twelve month high of $92.59. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 2.13 and a beta of 0.52. The company’s 50 day simple moving average is $88.34 and its 200 day simple moving average is $82.61. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.48 and a current ratio of 0.66.

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

Pinnacle West Capital Increases Dividend

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