This story originally appeared on Zacks
Pinnacle West Capital Corporation’s PNW planned investments in strengthening its infrastructure and an increasing focus on renewable sources for power generation will help it take advantage of the expected demand surge for clean energy. Also, PNW’s efforts to reduce costs will drive its earnings.
The Zacks Consensus Estimate for 2021 earnings is pegged at $5.08 per share, indicating growth of 4.31% from the year-ago quarter’s reported figure. Also, the consensus mark for current-year revenues stands at $3.62 billion, suggesting 0.97% growth from the prior-year period’s reported number. Additionally, long-term (three-five years) earnings growth is pegged at 5%.
In the past month, shares of this currently Zacks Rank #3 (Hold) Pinnacle West have lost 0.7% against the industry’s growth of 0.8%. You can see the…