Pinnacle West Capital (NYSE:PNW – Get Free Report) posted its quarterly earnings results on Thursday. The utilities provider reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.17, Briefing.com reports. Pinnacle West Capital had a return on equity of 8.30% and a net margin of 11.09%. The business had revenue of $951.71 million for the quarter, compared to the consensus estimate of $981.82 million. During the same period in the prior year, the business earned ($0.03) EPS. 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 Performance
Pinnacle West Capital stock traded up $0.75 during mid-day trading on Friday, reaching $75.79. 1,042,561 shares of the company’s stock were exchanged, compared to its average volume of 966,016. The business’s fifty day simple moving average is $72.41 and its 200 day simple moving average is $72.13. The company has a quick ratio of 0.50, a current ratio of 0.67 and a debt-to-equity ratio of 1.20. Pinnacle West Capital has a one year low of $65.20 and a one year high of $86.03. The firm has a market capitalization of $8.61 billion, a PE ratio of 16.51, a P/E/G ratio of 2.10 and a beta of 0.48.
Pinnacle West Capital Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 1st will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Tuesday, April 30th. Pinnacle West Capital’s payout ratio is 76.69%.
Analyst Ratings Changes
Check Out Our Latest Research Report 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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