Pinnacle West Capital (NYSE:PNW – Get Free Report) posted its quarterly earnings results on Thursday. The utilities provider reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.45, Briefing.com reports. Pinnacle West Capital had a return on equity of 9.73% and a net margin of 12.65%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the company earned $0.94 earnings per share. The business’s revenue was up 15.7% compared to the same quarter last year. 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 Stock Performance
Shares of Pinnacle West Capital stock traded up $0.16 during trading on Friday, reaching $88.23. The company’s stock had a trading volume of 1,186,154 shares, compared to its average volume of 995,348. The company has a quick ratio of 0.42, a current ratio of 0.58 and a debt-to-equity ratio of 1.20. The business’s 50-day moving average price is $78.67 and its 200-day moving average price is $74.38. Pinnacle West Capital has a 52 week low of $65.20 and a 52 week high of $89.39. The firm has a market cap of $10.02 billion, a PE ratio of 19.22, a P/E/G ratio of 2.26 and a beta of 0.50.
Pinnacle West Capital Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Thursday, August 1st. Pinnacle West Capital’s payout ratio is 76.69%.
Wall Street Analyst Weigh In
Read Our Latest Stock Report on Pinnacle West Capital
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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