S&P 500 component Pinnacle West Capital Corp will unveil its latest earnings on Friday, February 24, 2012. Pinnacle West Capital, through its subsidiaries, provides retail and wholesale electric services.
Pinnacle West Capital Corp Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of 5 cents per share after the company broke even in the year-earlier quarter. During the past three months, the average estimate has moved up from 4 cents. Between one and three months ago, the average estimate was unchanged. It has risen during the last month. For the year, analysts are projecting net income of $2.90 per share, a decline of 7.9% from last year.
Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the third quarter, it reported profit of $2.24 per share against a mean estimate of net income of $2.10 per share. In the second quarter, it missed forecasts by 10 cents.
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Wall St. Revenue Expectations: On average, analysts predict $667.2 million in revenue this quarter, a decline of 2.4% from the year-ago quarter. Analysts are forecasting total revenue of $3.27 billion for the year, a rise of 0.3% from last year’s revenue of $3.26 billion.
Analyst Ratings: Analysts seem relatively indifferent about Pinnacle West Capital with 10 of 11 analysts surveyed maintaining a hold rating.
A Look Back: In the third quarter, profit rose 9.2% to $255.4 million ($2.32 a share) from $233.9 million ($2.14 a share) the year earlier, exceeding analyst expectations. Revenue fell 1.3% to $1.12 billion from $1.14 billion.
Key Stats:
For two quarters in a row, revenue has declined. In the second quarter, the figure fell 2.5%.
Stock Price Performance: Between November 21, 2011 and February 17, 2012, the stock price rose $2.35 (5.2%), from $45.51 to $47.86. The stock price saw one of its best stretches over the last year between April 21, 2011 and May 3, 2011, when shares rose for eight straight days, increasing 4.7% (+$1.90) over that span. It saw one of its worst periods between July 21, 2011 and August 4, 2011 when shares fell for 11 straight days, dropping 9.7% (-$4.20) over that span.
(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com
To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
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