In yesterday’s Wall Street session, Pinnacle West Capital Corp. (NYSE:PNW) shares traded at $76.82, up 0.44% from the previous session.
PNW stock price is now 3.21% away from the 50-day moving average and 4.47% away from the 200-day moving average. The market capitalization of the company currently stands at $8.72B.
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With the price target of $78, Citigroup recently initiated with Neutral rating for Pinnacle West Capital Corp. (NYSE: PNW). On March 18, 2024, BofA Securities Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $71 to quote $80, while ‘UBS’ rates the stock as ‘Neutral’
In other news, Smith Robert Edgar, EVP, GC, and CDO sold 1,610 shares of the company’s stock on Dec 08 ’23. The stock was sold for $122,280 at an average price of $75.95. Upon completion of the transaction, the EVP, GC, and CDO now directly owns 9,178 shares in the company, valued at $0.71 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 24 ’23, President, APS Geisler Theodore N sold 1,484 shares of the business’s stock. A total of $118,616 was realized by selling the stock at an average price of $79.93. This leaves the insider owning 6,750 shares of the company worth $0.52 million. A total of 0.19% of the company’s stock is owned by insiders.
During the past 12 months, Pinnacle West Capital Corp. has had a low of $65.20 and a high of $86.03. As of last week, the company has a debt-to-equity ratio of 1.69, a current ratio of 0.46, and a quick ratio of 0.30. According to the stock market information, the enterprise value for the company is $19330404352, which is based on a 16.76 price-to-earnings ratio, a 2.33 price-to-earnings-growth ratio, and a beta of 0.49. The fifty day moving average price for PNW is $74.5528 and a two-hundred day moving average price translates $73.52455 for the stock.
The latest earnings results from Pinnacle West Capital Corp. (NYSE: PNW) was released for 2024-03-31. According to the Utilities – Regulated Electric Company, earnings per share came in at 0.94, missing analysts’ expectations of 1.19 by -0.25. This compares to -$0.03 EPS in the same period last year. The net profit margin was 11.09% and return on equity was 8.52% for PNW. The company reported revenue of $951.71 million for the quarter, compared to $944.96 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.72 percent. For the current quarter, analysts expect PNW to generate $1.21B in revenue.
