Pinnacle West Capital Corp (NYSE: PNW) has reported earnings for its third fiscal quarter (ending September 30) of $3.51 versus $2.88 for the same period a year ago — an increase of 22%. This result exceeded the consensus estimate of $3.42 by $0.09. For the latest four quarters through September 30, E.P.S. were $4.21 compared to $4.73 a year ago — a decline of -11%.
Recent Price Action
Pinnacle West Capital Corp (NYSE: PNW) stock closed at $75.17 on 11/2/23 after a modest decline of -0.5%. The stock has risen 1.1% during the last week and has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
PNW is expected to continue to be a Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Pinnacle West Capital has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. Pinnacle West Capital has a slightly positive Appreciation Score of 67 and a slightly positive Power Rating of 69, and the Positive Value Trend Rating results.
Rating Review
In light of this new information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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