Pinnacle West Capital (NYSE:PNW – Get Free Report) released its earnings results on Thursday. The utilities provider reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.45, Briefing.com reports. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.21 billion. Pinnacle West Capital had a return on equity of 9.73% and a net margin of 12.65%. Pinnacle West Capital’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 earnings per share. Pinnacle West Capital updated its FY24 guidance to $4.60-4.80 EPS and its FY 2024 guidance to 4.600-4.800 EPS.
Pinnacle West Capital Price Performance
Shares of PNW stock traded up $0.16 during trading hours on Friday, hitting $88.23. The stock had a trading volume of 1,186,154 shares, compared to its average volume of 995,348. Pinnacle West Capital has a one year low of $65.20 and a one year high of $89.39. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.58 and a quick ratio of 0.42. The stock’s 50-day moving average price is $78.67 and its two-hundred day moving average price is $74.38. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 2.26 and a beta of 0.50.
Pinnacle West Capital Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be issued a $0.88 dividend. The ex-dividend date is Thursday, August 1st. This represents a $3.52 annualized dividend and a dividend yield of 3.99%. Pinnacle West Capital’s dividend payout ratio (DPR) is 76.69%.
Analyst Ratings Changes
View Our Latest Analysis on PNW
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.
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