Equities Analysts Set Expectations for ProPetro Holding Corp.'s Q2 2024 Earnings (NYSE:PUMP)

ProPetro Holding Corp. (NYSE:PUMP - Free Report) - Stock analysts at Atb Cap Markets upped their Q2 2024 earnings estimates for shares of ProPetro in a research report issued to clients and investors on Wednesday, May 1st. Atb Cap Markets analyst W. Syed now forecasts that the company will earn $0.13 per share for the quarter, up from their previous estimate of $0.10. The consensus estimate for ProPetro's current full-year earnings is $0.48 per share. Atb Cap Markets also issued estimates for ProPetro's Q3 2024 earnings at $0.17 EPS, Q4 2024 earnings at $0.10 EPS, Q1 2025 earnings at $0.17 EPS, Q2 2025 earnings at $0.23 EPS, Q3 2025 earnings at $0.25 EPS, Q4 2025 earnings at $0.21 EPS, FY2025 earnings at $0.86 EPS, Q1 2026 earnings at $0.22 EPS and FY2026 earnings at $1.00 EPS.

ProPetro (NYSE:PUMP - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.08 by $0.10. The firm had revenue of $405.84 million during the quarter, compared to analysts' expectations of $393.11 million. ProPetro had a return on equity of 7.62% and a net margin of 4.76%. The business's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share.

A number of other equities research analysts have also issued reports on PUMP. Benchmark reissued a "hold" rating on shares of ProPetro in a report on Thursday. TheStreet cut shares of ProPetro from a "b-" rating to a "c+" rating in a research note on Monday, January 8th.

ProPetro Trading Up 1.5 %

Shares of PUMP traded up $0.14 during midday trading on Friday, reaching $9.30. The company had a trading volume of 1,744,802 shares, compared to its average volume of 1,590,836. ProPetro has a 1-year low of $6.33 and a 1-year high of $11.37. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.05. The firm has a 50 day simple moving average of $8.02 and a 200-day simple moving average of $8.52. The stock has a market cap of $1.00 billion, a PE ratio of 13.69 and a beta of 2.09.

Hedge Funds Weigh In On ProPetro

A number of hedge funds have recently made changes to their positions in the stock. Mutual Advisors LLC boosted its holdings in ProPetro by 49.5% during the 1st quarter. Mutual Advisors LLC now owns 182,152 shares of the company's stock valued at $1,472,000 after acquiring an additional 60,334 shares during the period. Jennison Associates LLC purchased a new stake in shares of ProPetro in the 1st quarter valued at approximately $960,000. Hartree Partners LP purchased a new stake in shares of ProPetro during the 1st quarter worth $3,259,000. North Star Investment Management Corp. grew its stake in shares of ProPetro by 171.5% during the first quarter. North Star Investment Management Corp. now owns 246,000 shares of the company's stock worth $1,988,000 after purchasing an additional 155,393 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in ProPetro in the fourth quarter valued at $102,000. Hedge funds and other institutional investors own 84.70% of the company's stock.

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.