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 fourth quarter Zacks Consensus Estimate for earnings of 10 cents per share has decreased by 9.1% in the last 60 days.
Coming to the earnings surprise, Pinnacle West has surpassed the Zacks Consensus Estimate in three out of last four quarters, resulting in an average positive surprise is 17.49%
Pinnacle West Capital Corporation Price and EPS Surprise
Pinnacle West Capital Corporation Price and EPS Surprise | Pinnacle West Capital Corporation Quote
Zacks Rank: Pinnacle West has a Zacks Rank #3 (Hold) but that could change following its fourth 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 fourth quarter earnings of 19 cents per share surpassed the Zacks Consensus Estimate of 10 cents by 90%
Revenue: Pinnacle West’s total revenue of $759.6 million reflected year-over-year growth of 2.75%.
Key Stats to Note: Pinnacle West Capital registered an annual customer growth of 1.8%.
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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