Brokerages Anticipate ProPetro Holding Corp. (NYSE:PUMP) Will Announce Quarterly Sales of $170.12 Million

Thursday, April 8, 2021 | MarketBeat

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.

Featured Story: VIX - Volatility Index

Get a free copy of the Zacks research report on ProPetro (PUMP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for ProPetro (NYSE:PUMP)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: Understanding the Price to Earnings Ratio (PE)



7 Stocks to Buy As Americans Receive Stimulus Checks

Millions of Americans will be receiving an additional $1,400 as part of the Biden stimulus plan after receiving $600 as part of the stimulus bill that President Trump back on December 27, 2020. Many already have.

For many Americans, there is a definite plan for how that money will be spent. And the usual suspects like Walmart (NYSE:WMT) and Amazon (NASDAQ:AMZN) will likely continue to be busy. However, for other Americans, the money they receive will truly be like finding money. Both scenarios present different thoughts for investors.

You may agree with the payments. You may disagree with them. It really doesn’t matter, they’re coming and now as an investor, the question is how can you benefit from the new spending that will undoubtedly occur as a result of Americans receiving this stimulus?

We have some ideas and we’re sharing them with you in this special presentation. It’s comforting to remember that for many people receiving the stimulus checks will help ease the pressure from desperate circumstances.

View the "7 Stocks to Buy As Americans Receive Stimulus Checks".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security. Learn more.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.