Wall Street brokerages expect that Pinnacle West Capital Corporation (NYSE:PNW) will report $2.40 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Pinnacle West Capital Corporation’s earnings. The lowest EPS estimate is $2.23 and the highest is $2.54. Pinnacle West Capital Corporation reported earnings of $2.35 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 2.1%. The business is scheduled to report its next earnings results on Thursday, November 2nd.

According to Zacks, analysts expect that Pinnacle West Capital Corporation will report full-year earnings of $4.27 per share for the current fiscal year, with EPS estimates ranging from $4.18 to $4.42. For the next financial year, analysts forecast that the company will report earnings of $4.49 per share, with EPS estimates ranging from $4.40 to $4.64. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Pinnacle West Capital Corporation.

Pinnacle West Capital Corporation (NYSE:PNW) last released its earnings results on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.33. The company had revenue of $944.59 million for the quarter, compared to the consensus estimate of $921.79 million. Pinnacle West Capital Corporation had a return on equity of 10.20% and a net margin of 14.37%. Pinnacle West Capital Corporation’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.08 earnings per share.

PNW has been the subject of a number of recent research reports. BidaskClub downgraded Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Zacks Investment Research downgraded Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $89.00 price target on shares of Pinnacle West Capital Corporation in a research report on Tuesday. BMO Capital Markets reaffirmed a “hold” rating and set a $89.00 price target on shares of Pinnacle West Capital Corporation in a research report on Friday, August 4th. Finally, Morgan Stanley reduced their price target on Pinnacle West Capital Corporation from $83.00 to $82.00 and set an “underweight” rating for the company in a research report on Monday, May 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $81.89.

TRADEMARK VIOLATION NOTICE: “Analysts Expect Pinnacle West Capital Corporation (PNW) to Post $2.40 EPS” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another publication, it was stolen and reposted in violation of US and international trademark & copyright laws. The correct version of this article can be viewed at https://www.thecerbatgem.com/2017/08/30/analysts-expect-pinnacle-west-capital-corporation-pnw-to-post-2-40-eps.html.

In other news, Chairman Donald E. Brandt sold 35,013 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $89.57, for a total value of $3,136,114.41. Following the completion of the sale, the chairman now owns 118,574 shares of the company’s stock, valued at approximately $10,620,673.18. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David P. Falck sold 4,600 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $89.98, for a total value of $413,908.00. Following the completion of the sale, the executive vice president now directly owns 42,840 shares of the company’s stock, valued at approximately $3,854,743.20. The disclosure for this sale can be found here. In the last three months, insiders sold 41,419 shares of company stock valued at $3,713,068. 0.70% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. Candriam Luxembourg S.C.A. bought a new stake in Pinnacle West Capital Corporation during the first quarter valued at approximately $1,854,000. Lazard Asset Management LLC increased its stake in Pinnacle West Capital Corporation by 0.3% in the first quarter. Lazard Asset Management LLC now owns 151,331 shares of the utilities provider’s stock valued at $12,617,000 after buying an additional 385 shares during the last quarter. BlackRock Inc. increased its stake in Pinnacle West Capital Corporation by 3,579.0% in the first quarter. BlackRock Inc. now owns 10,792,256 shares of the utilities provider’s stock valued at $899,860,000 after buying an additional 10,498,905 shares during the last quarter. FDO Partners LLC bought a new stake in Pinnacle West Capital Corporation during the first quarter valued at approximately $327,000. Finally, Schwab Charles Investment Management Inc. increased its stake in Pinnacle West Capital Corporation by 4.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 486,981 shares of the utilities provider’s stock valued at $40,605,000 after buying an additional 21,121 shares during the last quarter. 84.18% of the stock is owned by institutional investors.

Pinnacle West Capital Corporation (NYSE:PNW) traded down 0.46% during trading on Friday, reaching $89.99. The company had a trading volume of 374,188 shares. The firm has a market capitalization of $10.05 billion, a P/E ratio of 19.87 and a beta of 0.37. Pinnacle West Capital Corporation has a 52 week low of $70.86 and a 52 week high of $90.62. The stock has a 50 day moving average price of $87.42 and a 200 day moving average price of $85.18.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st will be issued a $0.655 dividend. This represents a $2.62 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Friday, July 28th. Pinnacle West Capital Corporation’s payout ratio is presently 57.96%.

About Pinnacle West Capital Corporation

Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.

Get a free copy of the Zacks research report on Pinnacle West Capital Corporation (PNW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Stock Ratings for Pinnacle West Capital Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital Corporation and related stocks with our FREE daily email newsletter.