Equities research analysts forecast that ProPetro Holding Corp. (NYSE:PUMP) will report sales of $170.12 million for the current fiscal quarter, Zacks Investment Research reports. Fourteen analysts have issued estimates for ProPetro's earnings, with estimates ranging from $155.05 million to $194.90 million. ProPetro posted sales of $395.07 million during the same quarter last year, which suggests a negative year over year growth rate of 56.9%. The company is scheduled to report its next quarterly earnings report on Monday, June 7th.
On average, analysts expect that ProPetro will report full-year sales of $851.03 million for the current year, with estimates ranging from $766.50 million to $999.81 million. For the next fiscal year, analysts anticipate that the company will post sales of $1.12 billion, with estimates ranging from $946.43 million to $1.60 billion. Zacks' sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for ProPetro.
ProPetro (NYSE:PUMP) last announced its quarterly earnings results on Monday, February 22nd. The company reported ($0.44) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.20) by ($0.24). ProPetro had a negative net margin of 3.76% and a negative return on equity of 0.92%. The company had revenue of $154.34 million during the quarter, compared to the consensus estimate of $152.76 million. During the same period in the previous year, the firm posted $0.22 EPS. The business's quarterly revenue was down 64.5% compared to the same quarter last year.
Several research firms have recently weighed in on PUMP. Stifel Nicolaus reaffirmed a "buy" rating on shares of ProPetro in a research report on Wednesday, January 27th. Smith Barney Citigroup raised ProPetro from a "neutral" rating to a "buy" rating in a research report on Tuesday, December 15th. Citigroup lifted their price objective on shares of ProPetro from $9.00 to $14.00 in a report on Tuesday, March 2nd. JPMorgan Chase & Co. increased their target price on shares of ProPetro from $6.00 to $10.00 and gave the stock an "overweight" rating in a report on Friday, December 18th. Finally, B. Riley boosted their price target on shares of ProPetro from $9.50 to $12.50 and gave the stock a "neutral" rating in a research report on Thursday, March 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company's stock. The company presently has an average rating of "Hold" and a consensus price target of $8.32.
In other ProPetro news, insider Samuel D. Sledge sold 19,099 shares of the firm's stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $11.56, for a total transaction of $220,784.44. Following the completion of the sale, the insider now owns 21,840 shares of the company's stock, valued at approximately $252,470.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.60% of the company's stock.
A number of institutional investors have recently added to or reduced their stakes in PUMP. Point72 Hong Kong Ltd bought a new stake in shares of ProPetro during the third quarter worth approximately $39,000. HighMark Wealth Management LLC bought a new stake in ProPetro in the 4th quarter valued at $44,000. Schonfeld Strategic Advisors LLC acquired a new position in ProPetro in the 3rd quarter valued at $62,000. Truist Financial Corp bought a new position in ProPetro during the 3rd quarter worth $68,000. Finally, BCJ Capital Management LLC acquired a new stake in shares of ProPetro during the fourth quarter worth $81,000. 78.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE PUMP opened at $10.61 on Thursday. The company has a fifty day moving average price of $11.29 and a 200 day moving average price of $8.25. The firm has a market cap of $1.08 billion, a PE ratio of -25.88 and a beta of 3.48. ProPetro has a 1-year low of $2.77 and a 1-year high of $13.99.
ProPetro Company Profile
ProPetro Holding Corp., an oilfield services company, provides pressure pumping and other related services. The company offers hydraulic fracturing services; and a suite of well completion and production services, including cementing, acidizing, coiled tubing, flowback, and drilling services. It serves the upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources in the Permian Basin.
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