Pinnacle West (PNW) Q3 Earnings Beat, Retains '17 Guidance
Zacks Investment Research | Nov 02, 2017 10:13PM ET
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 third quarter Zacks Consensus Estimate for earnings of $2.33 per share has increased by 1.7% in the last 60 days.
Coming to the earnings surprise, Pinnacle West has surpassed the Zacks Consensus Estimate in two out of last four quarters, resulting in an average positive surprise is 15.47%.
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