Pinnacle West Capital Corp. (NYSE:PNW) gapped up prior to trading on Tuesday . The stock had previously closed at $75.96, but opened at $76.07. Pinnacle West Capital Corp. shares last traded at $76.97, with a volume of 438,880 shares changing hands.
A number of equities research analysts have recently commented on PNW shares. Royal Bank Of Canada reaffirmed a “sector perfor” rating and issued a $69.00 price objective (down previously from $73.00) on shares of Pinnacle West Capital Corp. in a research report on Monday, June 20th. Zacks Investment Research raised Pinnacle West Capital Corp. from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Wednesday, May 18th. SunTrust Banks lowered their price objective on Pinnacle West Capital Corp. from $76.00 to $74.00 and set a “neutral” rating for the company in a research report on Monday, August 29th. Williams Capital reaffirmed a “hold” rating and issued a $79.00 price objective (up previously from $58.00) on shares of Pinnacle West Capital Corp. in a research report on Tuesday, August 30th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Pinnacle West Capital Corp. in a research report on Monday, July 18th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $71.40.
The firm’s 50-day moving average price is $77.51 and its 200 day moving average price is $75.14. The stock has a market cap of $8.57 billion and a PE ratio of 20.35.
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Pinnacle West Capital Corp. (NYSE:PNW) last released its earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by $0.06. The business earned $915.40 million during the quarter, compared to analysts’ expectations of $915.40 million. During the same period last year, the business earned $1.10 EPS. Pinnacle West Capital Corp.’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts forecast that Pinnacle West Capital Corp. will post $3.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 1st were given a $0.625 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $2.50 dividend on an annualized basis and a yield of 3.24%.
In other news, SVP Robert S. Bement sold 4,300 shares of the stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $75.75, for a total transaction of $325,725.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Pinnacle West Capital Corporation is a holding company that operates primarily through its subsidiaries. The Company operates through electricity segment, which consists of traditional regulated retail and wholesale electricity businesses (primarily electric service to Native Load customers) and related activities, and includes electricity generation, transmission and distribution.
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