trending Market Intelligence /marketintelligence/en/news-insights/trending/ImxqQDRm5u5zPxbYywS0Qw2 content esgSubNav
In This List

S&P Capital IQ downgrades Pinnacle West shares to 'sell'

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Video

S&P Capital IQ Pro | Powered by Expert Insights

451 Research Podcast

Next in Tech | Episode 41: IoT's Role in Energy and Utilities

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding


S&P Capital IQ downgrades Pinnacle West shares to 'sell'

S&P Capital IQ on May 3 downgraded shares to "sell"from "hold" and increased its 12-month price target on the company to$69 from $67.

Capital IQ reduced its full-year 2016 EPS estimate forPinnacle West by 6 cents to $3.94, while the 2017 EPS estimate was raised by acent to $4.20.

"We think PNW's capital spending will drive EPS higher,but we think the shares are overvalued," analyst Christopher Muir noted.

Pinnacle West's first quarter earnings missed the Capital IQconsensus by 7 cents due to higher maintenance expenses.

S&P Capital IQ andS&P Global Market Intelligence are owned by S&P Global Inc.