Pinnacle West Capital Corporation (NYSE:PNW) provider of retail and wholesale electric services, is expected to report third quarter earnings results, before market open, on Friday 30th October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 2.85 per share.
Looking ahead, the full year income are expected at $ 4.90 per share on the revenues of $ 3548.99 million.
The Company Outlook
Full Year 2020 bottomline are predicted in a range of $ 4.75 ~ $ 4.95 per share
Click Here For More Historical Outlooks Of Pinnacle West Capital Corporation
Previous Quarter Performance
Pinnacle West Capital Corporation announced income for the second quarter of $ 1.71 per share, from the revenue of $ 929.59 million. The quarterly earnings developed 33.59 percent while revenues grew 6.91 percent compared with the same quarter last year.
According to street consensus, PNW was expected to report 2Q20 income of $ 1.47 per share from revenue of $ 916.47 million. The bottom line results beat street analysts by $ 0.24 or 16.33 percent, at the same time, top line results outshined analysts by $ 13.12 million or 1.43 percent.
Stock Performance
Shares of Pinnacle West Capital Corporation traded up $ 0.49 or 0.59 percent on Thursday, reaching $ 83.26 with volume of 857.60 thousand shares. Pinnacle West Capital Corporation has traded high as $ 83.99 and has cracked $ 80.97 on the downward trend
According to the previous trading day, closing price of $ 83.26, representing a 37.84 % increase from the 52 week low of $ 60.05 and a 21.55 % decrease over the 52 week high of $ 105.51.
The company has a market capital of $ 9.37 billion and is part of the Utilities sector and Utilities – Regulated Electric industry.
Recent Analyst recommendations
- On 12th October 2020, downgraded by Bank of America to Underperform from Neutral rating.
- On 8th October 2020, initiated by Mizuho at Neutral rating.
- On 6th October 2020, maintained by Bank of America at Neutral rating, with $ 78.00 target price.
- On 5th October 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 78.00 target price.
Conference Call
Pinnacle West Capital Corporation will be hosting a conference call at 9:00 AM eastern time on 30th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.pinnaclewest.com
Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. The company generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities consist of approximately 6,192 pole miles of overhead lines and approximately 49 miles of underground lines; and distribution facilities comprise approximately 11,194 miles of overhead lines and approximately 21,854 miles of underground primary cable.
