Pinnacle West Capital (NYSE:PNW – Get Free Report) issued its earnings results on Thursday. The utilities provider reported $0.15 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.17, Briefing.com reports. Pinnacle West Capital had a return on equity of 8.02% and a net margin of 10.68%. The firm had revenue of $951.71 million for the quarter, compared to analyst estimates of $981.82 million. During the same period last year, the company earned ($0.03) earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Pinnacle West Capital updated its FY24 guidance to $4.60-4.80 EPS.
Pinnacle West Capital Stock Up 1.0 %
NYSE PNW traded up $0.75 on Friday, reaching $75.79. The stock had a trading volume of 1,042,530 shares, compared to its average volume of 1,313,112. The company has a current ratio of 0.67, a quick ratio of 0.50 and a debt-to-equity ratio of 1.20. Pinnacle West Capital has a 1 year low of $65.20 and a 1 year high of $86.03. The business has a 50 day moving average price of $72.41 and a 200 day moving average price of $72.13. The company has a market capitalization of $8.61 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 2.11 and a beta of 0.48.
Pinnacle West Capital Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 1st will be issued a dividend of $0.88 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.52 annualized dividend and a dividend yield of 4.64%. Pinnacle West Capital’s dividend payout ratio is 79.82%.
Analysts Set New Price Targets
View Our Latest Research Report on Pinnacle West Capital
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.
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