New Lifetime High Reached By Pinnacle West Capital (PNW)

Trade-Ideas LLC identified Pinnacle West Capital ( PNW) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Pinnacle West Capital as such a stock due to the following factors:

  • PNW has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $65.1 million.
  • PNW has traded 13,413 shares today.
  • PNW is trading at a new lifetime high.

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More details on PNW:

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the State of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar resources. The stock currently has a dividend yield of 3.1%. PNW has a PE ratio of 21. Currently there is 1 analyst that rates Pinnacle West Capital a buy, 2 analysts rate it a sell, and 5 rate it a hold.

The average volume for Pinnacle West Capital has been 761,500 shares per day over the past 30 days. Pinnacle West has a market cap of $9.0 billion and is part of the utilities sector and utilities industry. The stock has a beta of 0.37 and a short float of 3.1% with 4.30 days to cover. Shares are up 25.7% year-to-date as of the close of trading on Friday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Pinnacle West Capital as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:
  • PNW's revenue growth has slightly outpaced the industry average of 7.6%. Since the same quarter one year prior, revenues slightly increased by 0.9%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • Compared to its closing price of one year ago, PNW's share price has jumped by 42.48%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, although almost any stock can fall in a broad market decline, PNW should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • PINNACLE WEST CAPITAL CORP has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, PINNACLE WEST CAPITAL CORP increased its bottom line by earning $3.91 versus $3.58 in the prior year. This year, the market expects an improvement in earnings ($4.00 versus $3.91).
  • Net operating cash flow has remained constant at $144.21 million with no significant change when compared to the same quarter last year. In addition, PINNACLE WEST CAPITAL CORP has modestly surpassed the industry average cash flow growth rate of -5.16%.
  • The debt-to-equity ratio is somewhat low, currently at 0.89, and is less than that of the industry average, implying that there has been a relatively successful effort in the management of debt levels. Even though the company has a strong debt-to-equity ratio, the quick ratio of 0.14 is very weak and demonstrates a lack of ability to pay short-term obligations.

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