Phoenix, AZ-based Pinnacle West Capital Corporation (NYSE:PNW) , together with its subsidiaries, provides electricity services in the state of Arizona.
Pinnacle West’s continuous investment in traditional generation, transmission & distribution lines will boost its performance over the long run.
The gradual recovery in Arizona’s economy, decline in unemployment rates and increasing housing permits will boost demand going forward. However, stringent regulations and fluctuations in commodity price remain the concern.
Estimate Trend & Surprise History
Investors should note that the first quarter Zacks Consensus Estimate for earnings of 15 cents per share decreased by a penny over the last 90 days.
Coming to the earnings surprise, Pinnacle West has missed the Zacks Consensus Estimate in the last four quarters, resulting in a negative average surprise of 20.27%
Zacks Rank: Currently, Pinnacle West has a Zacks Rank #4 (Sell) but that could change following its first quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Pinnacle West’s first-quarter earnings surpassed expectation. While our consensus called for earnings of 15 cents, the company reported EPS of 21 cents.
Pinnacle West Capital Corporation Price and EPS Surprise
Market Reaction: It would be interesting to see how the market reacts to the positive earnings surprise during the trading session today.
Check back later for our full write up on this PNW earnings report later
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Pinnacle West Capital Corporation (PNW): Free Stock Analysis Report
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