Pinnacle West Capital Corp. (NYSE: PNW)’s stock price has decreased by -0.22 compared to its previous closing price of 85.70. However, the company has seen a 0.13% increase in its stock price over the last five trading sessions. seekingalpha.com reported 2024-08-01 that Pinnacle West Capital Corporation (NYSE:PNW ) Q2 2024 Earnings Conference Call August 1, 2024 12:00 PM ET Company Participants Amanda Ho – Investor Relations Jeffrey Guldner – Chairman of the Board, President and Chief Executive Officer, Pinnacle West Capital Corporation Andrew Cooper – Senior Vice President and Chief Financial Officer, Pinnacle West Capital Corporation and Arizona Public Service Company Ted Geisler – President, Arizona Public Service Company Conference Call Participants Shar Pourreza – Guggenheim Partners Nicholas Campanella – Barclays Michael Lonegan – Evercore ISI Travis Miller – Morningstar Julien Dumoulin-Smith – Jefferies Paul Patterson – Glenrock Associates Operator Good morning, everyone, and welcome to the Pinnacle West Capital Corporation 2024 Second Quarter Earnings Conference Call. At this time, all participants have been placed on a listen-only mode.
Is It Worth Investing in Pinnacle West Capital Corp. (NYSE: PNW) Right Now?
Pinnacle West Capital Corp. (NYSE: PNW) has a price-to-earnings ratio that is above its average at 15.82x. The stock has a 36-month beta value of 0.51. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 1 as “overweight,” 11 as “hold,” and 1 as “sell.”
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The public float for PNW is 113.38M, and at present, short sellers hold a 4.37% of that float. On August 15, 2024, the average trading volume of PNW was 970.26K shares.
PNW’s Market Performance
The stock of Pinnacle West Capital Corp. (PNW) has seen a 0.13% increase in the past week, with a 3.81% rise in the past month, and a 10.28% gain in the past quarter. The volatility ratio for the week is 1.38%, and the volatility levels for the past 30 days are at 1.77% for PNW. The simple moving average for the past 20 days is 0.70% for PNW’s stock, with a 14.72% simple moving average for the past 200 days.
Analysts’ Opinion of PNW
Many brokerage firms have already submitted their reports for PNW stocks, with Ladenburg Thalmann repeating the rating for PNW by listing it as a “Buy.” The predicted price for PNW in the upcoming period, according to Ladenburg Thalmann is $83.50 based on the research report published on June 06, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see PNW reach a price target of $78. The rating they have provided for PNW stocks is “Neutral” according to the report published on April 29th, 2024.
BofA Securities gave a rating of “Buy” to PNW, setting the target price at $80 in the report published on March 18th of the current year.
PNW Trading at 6.73% from the 50-Day Moving Average
After a stumble in the market that brought PNW to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -4.34% of loss for the given period.
Volatility was left at 1.77%, however, over the last 30 days, the volatility rate increased by 1.38%, as shares surge +4.12% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +9.55% upper at present.
During the last 5 trading sessions, PNW rose by +0.06%, which changed the moving average for the period of 200-days by +15.83% in comparison to the 20-day moving average, which settled at $85.09. In addition, Pinnacle West Capital Corp. saw 19.03% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PNW starting from Smith Robert Edgar, who sale 4,950 shares at the price of $85.80 back on Aug 09 ’24. After this action, Smith Robert Edgar now owns 6,397 shares of Pinnacle West Capital Corp., valued at $424,710 using the latest closing price.
Mountain Paul J, the VP, Finance and Treasurer of Pinnacle West Capital Corp., sale 2,700 shares at $85.28 during a trade that took place back on Aug 08 ’24, which means that Mountain Paul J is holding 1,508 shares at $230,256 based on the most recent closing price.
Stock Fundamentals for PNW
Current profitability levels for the company are sitting at:
- 0.21 for the present operating margin
- 0.34 for the gross margin
The net margin for Pinnacle West Capital Corp. stands at 0.13. The total capital return value is set at 0.05. Equity return is now at value 10.16, with 2.49 for asset returns.
Based on Pinnacle West Capital Corp. (PNW), the company’s capital structure generated 0.61 points at debt to capital in total, while cash flow to debt ratio is standing at 0.13. The debt to equity ratio resting at 1.56. The interest coverage ratio of the stock is 2.78.
Currently, EBITDA for the company is 1.73 billion with net debt to EBITDA at 5.73. When we switch over and look at the enterprise to sales, we see a ratio of 4.28. The receivables turnover for the company is 5.66for trailing twelve months and the total asset turnover is 0.19. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.55.
Conclusion
To sum up, Pinnacle West Capital Corp. (PNW) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
