Pinnacle West Capital (NYSE:PNW) Issues FY25 Earnings Guidance

Pinnacle West Capital (NYSE:PNW) updated its FY25 earnings guidance on Wednesday. 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.

Pinnacle West Capital Trading Up 2.9 %

Shares of PNW stock traded up $2.59 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. The company’s 50 day moving average price is $88.34 and its 200-day moving average price is $82.61. Pinnacle West Capital has a 1 year low of $65.20 and a 1 year high of $92.59. The firm 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. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.48.

Pinnacle West Capital (NYSE:PNW) last announced 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. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.68 billion. Analysts anticipate 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. Shareholders of record on Monday, November 4th will be issued a dividend of $0.895 per share. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.58 annualized dividend and a yield of 3.90%. Pinnacle West Capital’s dividend payout ratio is 67.80%.

Analyst Ratings Changes

A number of analysts recently weighed in on PNW shares. Morgan Stanley upped their target price on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group began coverage on shares of Pinnacle West Capital in a research report on Thursday, September 19th. They issued a “buy” rating and a $104.00 price objective on the stock. 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, Wells Fargo & Company boosted their target price 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. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Pinnacle West Capital has an average rating of “Hold” and an average 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.