A share price of Pinnacle West Capital Corp. [PNW] is currently trading at $71.70, up 0.46%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The PNW shares have gain 5.36% over the last week, with a monthly amount glided 6.63%, and seem to be holding up well over a long-time horizon.
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On 29, February 2024, Pinnacle West Announces Pricing of a Public Offering of 9,774,436 Shares of Common Stock. In a post published today on Yahoo Finance, Pinnacle West Capital Corp. (NYSE: PNW) (“Pinnacle West”) announced today that it has priced its registered public offering of 9,774,436 shares of its common stock for approximate net proceeds of $630.5 million (before offering expenses, assuming the underwriters do not exercise their option to purchase additional shares and upon, and assuming, full physical settlement of the forward sale agreements) in connection with the forward sale agreements described below. The common stock offering was priced at a public offering price of $66.50 per share.
From an analyst’s perspective:
Pinnacle West Capital Corp. [NYSE: PNW] stock has seen the most recent analyst activity on February 14, 2024, when Ladenburg Thalmann initiated its Neutral rating and assigned the stock a price target of $69. Previously, Guggenheim upgraded its rating to Buy on January 22, 2024, and kept the price target unchanged to $78. On October 05, 2023, upgrade upgraded it’s rating to Sector Weight. Barclays started tracking the stock assigning a Overweight rating and suggested a price target of $81 on August 23, 2023. Mizuho upgraded its rating to a Buy and raised its price target to $85 on August 22, 2023. Evercore ISI upgraded its rating to In-line for this stock on August 11, 2023, but kept the price target unchanged to $78. In a note dated May 26, 2023, BofA Securities upgraded an Neutral rating on this stock and boosted its target price from $76 to $78.
Pinnacle West Capital Corp. experienced fluctuations in its stock price throughout the past year between $65.20 and $86.03. Currently, Wall Street analysts expect the stock to reach $70.11 within the next 12 months. Pinnacle West Capital Corp. [NYSE: PNW] shares were valued at $71.70 at the most recent close of the market. An investor can expect a potential drop of -2.22% based on the average PNW price forecast.
Analyzing the PNW fundamentals
Trailing Twelve Months sales for Pinnacle West Capital Corp. [NYSE:PNW] were 4.70B which represents -1.76% decline. Gross Profit Margin for this corporation currently stands at 0.39% with Operating Profit Margin at 0.18%, Pretax Profit Margin comes in at 0.13%, and Net Profit Margin reading is 0.11%. To continue investigating profitability, this company’s Return on Assets is posted at 0.02, Equity is 0.08 and Total Capital is 0.04. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.67.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 71.12 points at the first support level, and at 70.55 for the second support level. However, for the 1st resistance point, the stock is sitting at 72.18, and for the 2nd resistance point, it is at 72.66.
Pinnacle West Capital Corp. [PNW] reported earnings per share of $0 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.13/share, meaning a difference of $0.13 and a surprise factor of 100.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $3.5 per share as compared to estimates of $3.41 per share, a difference of $0.09 representing a surprise of 2.60%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Pinnacle West Capital Corp. [NYSE:PNW] is 0.51. Also, the Quick Ratio is 0.34, while the Cash Ratio stands at 0.0. Considering the valuation of this stock, the price to sales ratio is 1.88, the price to book ratio is 1.32 and price to earnings (TTM) ratio is 16.27.
Transactions by insiders
Recent insider trading involved Smith Robert Edgar, EVP, GC, and CDO, that happened on Dec 08 ’23 when 1610.0 shares were sold. President, APS, Geisler Theodore N completed a deal on Aug 24 ’23 to sell 1484.0 shares. Meanwhile, President, APS Geisler Theodore N sold 7.0 shares on Aug 24 ’23.
