$710.61 Million in Sales Expected for Pinnacle West Capital Co. (NYSE:PNW) This Quarter

Analysts expect Pinnacle West Capital Co. (NYSE:PNWGet Rating) to report $710.61 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Pinnacle West Capital’s earnings, with estimates ranging from $698.52 million to $722.70 million. Pinnacle West Capital posted sales of $696.48 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2%. The business is scheduled to report its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Pinnacle West Capital will report full year sales of $3.75 billion for the current year, with estimates ranging from $3.69 billion to $3.81 billion. For the next year, analysts anticipate that the company will post sales of $3.87 billion, with estimates ranging from $3.85 billion to $3.89 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Pinnacle West Capital.

Pinnacle West Capital (NYSE:PNWGet Rating) last released its quarterly earnings data on Friday, February 25th. The utilities provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.17. The company had revenue of $798.90 million for the quarter, compared to the consensus estimate of $659.68 million. Pinnacle West Capital had a return on equity of 10.38% and a net margin of 16.27%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business posted ($0.17) EPS.

PNW has been the topic of several analyst reports. Argus raised their target price on Pinnacle West Capital from $72.00 to $80.00 in a report on Thursday, January 6th. Royal Bank of Canada raised their target price on Pinnacle West Capital from $76.00 to $80.00 and gave the company a “sector perform” rating in a report on Monday, April 4th. UBS Group downgraded Pinnacle West Capital from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $72.00 to $64.00 in a report on Wednesday, January 5th. Wells Fargo & Company lifted their price objective on Pinnacle West Capital from $68.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, February 28th. Finally, Mizuho lifted their price objective on Pinnacle West Capital from $72.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, March 10th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $74.61.

Pinnacle West Capital stock opened at $77.14 on Tuesday. The stock has a market cap of $8.72 billion, a P/E ratio of 14.10 and a beta of 0.28. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.15. Pinnacle West Capital has a 12 month low of $62.78 and a 12 month high of $88.54. The stock has a 50-day moving average price of $73.77.

Several institutional investors and hedge funds have recently modified their holdings of the company. Carroll Financial Associates Inc. boosted its position in Pinnacle West Capital by 18,150.0% during the 4th quarter. Carroll Financial Associates Inc. now owns 365 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 363 shares during the period. National Bank of Canada FI acquired a new position in Pinnacle West Capital during the 4th quarter valued at approximately $25,000. Carolinas Wealth Consulting LLC boosted its position in Pinnacle West Capital by 9,200.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 372 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 368 shares during the period. City State Bank acquired a new position in Pinnacle West Capital during the 4th quarter valued at approximately $26,000. Finally, Retirement Group LLC acquired a new position in Pinnacle West Capital during the 4th quarter valued at approximately $28,000. Institutional investors own 80.03% of the company’s stock.

Pinnacle West Capital Company Profile (Get Rating)

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, 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.

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

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