Analysts Expect ProPetro Holding Corp. (NYSE:PUMP) Will Post Quarterly Sales of $313.38 Million

Wall Street brokerages expect ProPetro Holding Corp. (NYSE:PUMPGet Rating) to announce $313.38 million in sales for the current quarter, according to Zacks. Nine analysts have issued estimates for ProPetro’s earnings, with the lowest sales estimate coming in at $303.20 million and the highest estimate coming in at $317.76 million. ProPetro posted sales of $216.89 million during the same quarter last year, which suggests a positive year over year growth rate of 44.5%. The firm is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that ProPetro will report full year sales of $1.27 billion for the current financial year, with estimates ranging from $1.23 billion to $1.31 billion. For the next year, analysts expect that the firm will report sales of $1.52 billion, with estimates ranging from $1.46 billion to $1.57 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover ProPetro.

ProPetro (NYSE:PUMPGet Rating) last posted its earnings results on Tuesday, May 3rd. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $282.68 million for the quarter, compared to analyst estimates of $273.81 million. ProPetro had a negative return on equity of 2.62% and a negative net margin of 2.21%. The company’s revenue for the quarter was up 75.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.20) earnings per share.

A number of brokerages have recently commented on PUMP. R. F. Lafferty boosted their price target on ProPetro from $11.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 23rd. Stifel Nicolaus lifted their target price on ProPetro from $13.00 to $16.00 in a research report on Friday, April 8th. Tudor Pickering raised ProPetro from a “hold” rating to a “buy” rating in a research report on Thursday, May 5th. Zacks Investment Research downgraded ProPetro from a “buy” rating to a “hold” rating and set a $13.00 target price on the stock. in a research report on Wednesday, February 16th. Finally, Tudor, Pickering, Holt & Co. raised ProPetro from a “hold” rating to a “buy” rating in a research report on Thursday, May 5th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $15.63.

In other ProPetro news, Director Phillip A. Gobe sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $12.26, for a total transaction of $490,400.00. Following the transaction, the director now owns 244,111 shares of the company’s stock, valued at $2,992,800.86. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Spencer D. Armour III sold 32,931 shares of the business’s stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $14.37, for a total value of $473,218.47. Following the sale, the director now owns 54,515 shares of the company’s stock, valued at approximately $783,380.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,464 shares of company stock worth $1,257,927. Company insiders own 0.90% of the company’s stock.

Several large investors have recently modified their holdings of PUMP. Meeder Asset Management Inc. bought a new stake in shares of ProPetro during the first quarter worth approximately $34,000. Chilton Capital Management LLC bought a new stake in shares of ProPetro during the fourth quarter worth approximately $37,000. US Bancorp DE boosted its holdings in shares of ProPetro by 129.1% during the third quarter. US Bancorp DE now owns 4,513 shares of the company’s stock worth $39,000 after acquiring an additional 2,543 shares during the period. Royal Bank of Canada boosted its holdings in shares of ProPetro by 1,948.7% during the second quarter. Royal Bank of Canada now owns 6,146 shares of the company’s stock worth $57,000 after acquiring an additional 5,846 shares during the period. Finally, K.J. Harrison & Partners Inc bought a new stake in shares of ProPetro during the fourth quarter worth approximately $81,000. Institutional investors own 86.35% of the company’s stock.

PUMP stock opened at $12.62 on Wednesday. The firm has a market cap of $1.32 billion, a PE ratio of -57.36 and a beta of 2.51. The business’s 50-day moving average price is $13.84 and its two-hundred day moving average price is $11.50. ProPetro has a 1-year low of $6.39 and a 1-year high of $16.92.

ProPetro Company Profile (Get Rating)

ProPetro Holding Corp., an oilfield services company, provides hydraulic fracturing and other related services. The company operates through Pressure Pumping and All Other segments. It offers cementing, acidizing, and coiled tubing services. The company serves oil and gas companies engaged in the exploration and production of North American oil and natural gas resources.

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