Zacks Research Equities Analysts Cut Earnings Estimates for ProPetro Holding Corp. (NYSE:PUMP)

ProPetro Holding Corp. (NYSE:PUMP) – Equities researchers at Zacks Research decreased their Q3 2024 earnings estimates for shares of ProPetro in a research report issued to clients and investors on Friday, April 26th. Zacks Research analyst N. Choudhury now forecasts that the company will post earnings per share of $0.16 for the quarter, down from their prior forecast of $0.17. The consensus estimate for ProPetro’s current full-year earnings is $0.48 per share. Zacks Research also issued estimates for ProPetro’s Q4 2024 earnings at $0.08 EPS, FY2024 earnings at $0.43 EPS, Q4 2025 earnings at $0.29 EPS, FY2025 earnings at $0.57 EPS and FY2026 earnings at $0.89 EPS.

ProPetro (NYSE:PUMP) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.24). ProPetro had a net margin of 5.25% and a return on equity of 10.26%. The company had revenue of $347.80 million during the quarter, compared to the consensus estimate of $351.50 million. During the same quarter last year, the firm posted $0.31 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis.

A number of other research analysts also recently weighed in on PUMP. Benchmark downgraded ProPetro from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. TheStreet lowered ProPetro from a “b-” rating to a “c+” rating in a report on Monday, January 8th.

ProPetro Trading Up 0.2 %

Shares of PUMP stock opened at $9.00 on Monday. The company has a market cap of $968.13 million, a P/E ratio of 12.16 and a beta of 2.13. ProPetro has a fifty-two week low of $6.33 and a fifty-two week high of $11.37. The stock has a 50 day simple moving average of $7.96 and a two-hundred day simple moving average of $8.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.08 and a current ratio of 1.15.

Hedge Funds Weigh In On ProPetro

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kennedy Capital Management LLC bought a new stake in shares of ProPetro during the 3rd quarter valued at $7,492,000. First Dallas Securities Inc. purchased a new stake in shares of ProPetro in the 3rd quarter valued at $4,933,000. Dimensional Fund Advisors LP grew its holdings in shares of ProPetro by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,293,490 shares of the company’s stock valued at $61,120,000 after purchasing an additional 378,379 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in shares of ProPetro during the third quarter valued at about $2,853,000. Finally, American Century Companies Inc. grew its position in ProPetro by 13.3% during the 3rd quarter. American Century Companies Inc. now owns 1,387,406 shares of the company’s stock worth $14,748,000 after acquiring an additional 163,363 shares during the last quarter. 84.70% of the stock is owned by institutional investors.

ProPetro Company Profile

ProPetro Holding Corp. operates as an integrated oilfield services company. The company provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin. ProPetro Holding Corp. was founded in 2007 and is headquartered in Midland, Texas.