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Analysts Offer Predictions for PNW FY2029 Earnings

Pinnacle West Capital logo with Utilities background

Key Points

  • KeyCorp analysts predict that Pinnacle West Capital will reach an earnings per share (EPS) of $6.56 in FY2029, maintaining an "Overweight" rating with a price target of $97.00.
  • Zacks Research downgraded Pinnacle West Capital from a "hold" to a "strong sell" rating, while UBS and Mizuho adjusted their price targets, reflecting mixed market sentiment among analysts.
  • Approximately 91.51% of Pinnacle West Capital's stock is owned by institutional investors, indicating strong institutional interest in the company.
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Pinnacle West Capital Corporation (NYSE:PNW - Free Report) - Investment analysts at KeyCorp issued their FY2029 earnings per share (EPS) estimates for Pinnacle West Capital in a research report issued to clients and investors on Wednesday, October 15th. KeyCorp analyst S. Karp anticipates that the utilities provider will earn $6.56 per share for the year. KeyCorp has a "Overweight" rating and a $97.00 price objective on the stock. The consensus estimate for Pinnacle West Capital's current full-year earnings is $5.13 per share.

Several other equities research analysts also recently weighed in on the stock. Zacks Research downgraded shares of Pinnacle West Capital from a "hold" rating to a "strong sell" rating in a research note on Friday, October 10th. UBS Group boosted their price objective on shares of Pinnacle West Capital from $95.00 to $101.00 and gave the company a "neutral" rating in a research note on Friday, October 10th. Mizuho cut shares of Pinnacle West Capital from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $102.00 to $90.00 in a research report on Tuesday, September 9th. BMO Capital Markets increased their price objective on shares of Pinnacle West Capital from $96.00 to $98.00 and gave the stock a "market perform" rating in a research note on Thursday, August 7th. Finally, Morgan Stanley decreased their price objective on shares of Pinnacle West Capital from $89.00 to $87.00 and set an "equal weight" rating for the company in a report on Thursday, September 25th. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $96.36.

Read Our Latest Stock Report on Pinnacle West Capital

Pinnacle West Capital Stock Up 0.3%

Shares of NYSE PNW opened at $93.71 on Thursday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.52 and a quick ratio of 0.37. The company has a 50 day simple moving average of $89.70 and a 200-day simple moving average of $90.80. Pinnacle West Capital has a 1 year low of $81.47 and a 1 year high of $96.50. The company has a market capitalization of $11.19 billion, a P/E ratio of 19.32, a P/E/G ratio of 9.65 and a beta of 0.46.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.58 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.58. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter last year, the company earned $1.76 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year.

Institutional Investors Weigh In On Pinnacle West Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clearstead Trust LLC bought a new stake in shares of Pinnacle West Capital in the 1st quarter valued at about $25,000. Costello Asset Management INC acquired a new position in shares of Pinnacle West Capital during the 1st quarter worth approximately $26,000. Caldwell Trust Co acquired a new position in shares of Pinnacle West Capital during the 2nd quarter worth approximately $27,000. CYBER HORNET ETFs LLC bought a new position in Pinnacle West Capital in the second quarter valued at approximately $27,000. Finally, Ameritas Advisory Services LLC bought a new position in Pinnacle West Capital in the second quarter valued at approximately $31,000. 91.51% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Jacob Tetlow sold 6,496 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $92.37, for a total value of $600,035.52. Following the completion of the transaction, the executive vice president owned 56 shares of the company's stock, valued at $5,172.72. The trade was a 99.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by company insiders.

Pinnacle West Capital Company Profile

(Get Free Report)

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.

Further Reading

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

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