Pinnacle West Capital Corporation (PNW) Releases Earnings Results, Misses Expectations By $-0.06 EPS

Pinnacle West Capital Corporation (PNW) reported quarterly earnings results on Tuesday, Aug-2-2016. The company reported $1.08 earnings per share for the quarter, missing the analyst consensus estimate by $-0.06. Analysts had a consensus of $1.14. The company posted revenue of $915.39 million in the period, compared to analysts expectations of $910.66 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 EPS.

Many Wall Street Analysts have commented on Pinnacle West Capital Corporation. Company shares were Reiterated by RBC Capital Mkts on Jun 20, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 73 from a previous price target of $69 .

Pinnacle West Capital Corporation opened for trading at $78.55 and hit $79.17 on the upside on Friday, eventually ending the session at $78.87, with a gain of 0.48% or 0.38 points. The heightened volatility saw the trading volume jump to 5,39,707 shares. Company has a market cap of $8,766 M.

In a different news, on May 10, 2016, Denis A. Cortese (director) sold 2,000 shares at $72.87 per share price. According to the SEC, on Mar 11, 2016, Denise R Danner (VP, Controller & CAO) sold 2,175 shares at $70.83 per share price. On Mar 2, 2016, Lee R. Nickloy (VP and Treasurer) sold 3,000 shares at $68.34 per share price, according to the Form-4 filing with the securities and exchange commission.

Pinnacle West Capital Corporation is a holding company that operates primarily through its wholly owned subsidiaries is engaged in regulated retail and wholesale electricity businesses. The Company’s operations primarily include electricity generation transmission and distribution. The Company’s subsidiaries include Arizona Public Service Company (APS) a vertically integrated electric utility that provides either retail or wholesale electric service to the State of Arizona with the exceptions of about one-half of the Phoenix metropolitan area the Tucson metropolitan area and Mohave County in northwestern Arizona; El Dorado Investment Company (El Dorado) and Bright Canyon Energy Corporation (BCE). APS provides electric service to approximately 1.2 million customers. APS has ownership interests in or leases the coal nuclear gas oil and solar generating facilities.

Pinnacle West Capital Corporation

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