Pinnacle West Capital (NYSE:PNW) Releases 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 analysts have recently weighed in on PNW shares. Jefferies Financial Group began 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 for the company. Morgan Stanley increased 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 increased their price objective on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, StockNews.com upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Hold” and an average target price of $80.96.

Pinnacle West Capital Trading Up 2.9 %

Shares of PNW stock traded up $2.59 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 has a 50-day moving average of $88.34 and a 200-day moving average of $82.61. Pinnacle West Capital has a 12 month low of $65.20 and a 12 month high of $92.59. The stock 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 company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 1.28.

Pinnacle West Capital (NYSE:PNW) last posted 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 company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.68 billion. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. On average, equities analysts forecast that Pinnacle West Capital will post 4.9 earnings per share 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. The ex-dividend date of this dividend is Monday, November 4th. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.88. This represents a $3.58 annualized dividend and a yield of 3.90%. Pinnacle West Capital’s payout ratio is currently 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.