Pinnacle West Capital Corporation ( PNW Quick Quote PNW - Free Report) is scheduled to release fourth-quarter 2020 results on Feb24, before the opening bell. The company delivered an earnings surprise of 3.02% in the last reported quarter. Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results. Factors at Play
With the gradual reopening of the economic activities, Pinnacle West is likely to have witnessed an upward trend in demand from commercial and industrial group in the to-be reported quarter. Also, consistent growth in residential demand will aid results. In addition, the ongoing extension of the company’s customer base is likely to have boosted demand and positively impacted its fourth-quarter earnings.
Further, a steady favorable economic environment in Arizona is likely to have perked up demand and contributed to earnings. The fourth-quarter earnings might have also gained from the company’s cost-savings initiatives. Q4 Expectations
The Zacks Consensus Estimate for fourth-quarter sales is pegged at $672.7 million, which indicates a rise of 0.34% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for fourth-quarter earnings per share stands at 4 cents, which suggests a 92.98% fall from the year-earlier quarter's reported number.
What Our Quantitative Model Predicts
Our proven model doesn’t 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, which is not the case here. Earnings ESP: Pinnacle West has an Earnings ESP of -181.82%. 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. You can see . the complete list of today’s Zacks #1 Rank stocks here Stocks to Consider
Here are some companies worth considering from the same sector, which according to our model, have the right combination of elements to beat on earnings in the upcoming releases.
Exelon Corporation ( EXC Quick Quote EXC - Free Report) is set to release fourth-quarter 2020 results on Feb 24. It has an Earnings ESP of +2.34% and is a #3 Ranked player at present. Essential Utilities Inc. ( WTRG Quick Quote WTRG - Free Report) is set to release fourth-quarter 2020 results on Feb 24. It has an Earnings ESP of +5.50% and isZacks #3 Ranked at present. American Electric Power ( AEP Quick Quote AEP - Free Report) is set to release fourth-quarter 2020 results on Feb 25. It has an Earnings ESP of +1.52% and a Zacks Rank of 3 at present. These Stocks Are Poised to Soar Past the Pandemic
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