Pinnacle West (PNW) to Post Q3 Earnings: What's in Store?
Pinnacle West Capital Corporation PNW is scheduled to release third-quarter 2019 results on Nov 7, before the opening bell. Notably, the company delivered an average positive earnings surprise of 1.66% in the last four quarters.
Let’s see how things are shaping up prior to this announcement.
Factors at Play
Pinnacle West Capital has operations in the Metro Phoenix area, which continues to show strong economic activities and job growth. The job addition has been consistently above the national average. Solid job growth is expected to have increased demand for the company’s services in the third quarter.
Normal weather condition and retail customer growth are likely to have boosted Pinnacle West’s third-quarter performance.
Q3 Expectation
The Zacks Consensus Estimate for third-quarter earnings is pegged at $3.03 per share, which indicates growth of 8.21% on a year-over-year basis.
Pinnacle West Capital Corporation Price and EPS Surprise
Pinnacle West Capital Corporation price-eps-surprise | Pinnacle West Capital Corporation Quote
What Our Quantitative Model Predicts
Our proven model doesn’t conclusively predict an earnings beat for Pinnacle West this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Pinnacle West carries a Zacks Rank #3.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
PPL Corporation PPL is slated to release third-quarter 2019 results on Nov 5. It has an Earnings ESP of +1.37% and a Zacks Rank #3.
Eversource Energy ES is set to release third-quarter 2019 numbers on Nov 6. It has an Earnings ESP of +1.06% and carries a Zacks Rank #2.
CenterPoint Energy, Inc CNP is scheduled to release third-quarter 2019 results on Nov 7. It has an Earnings ESP of +0.12% and a Zacks Rank #3.
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