Zacks Research Forecasts Stronger Earnings for ProPetro

Key Points

• Zacks Research has revised ProPetro's FY2027 earnings per share estimate up to $0.38 from $0.36, while maintaining a "Strong Sell" rating on the stock.
• ProPetro reported a quarterly earnings miss, with an EPS of ($0.07), falling short of the consensus estimate of $0.03, and its revenue decreased by 9.2% year-over-year.
• The stock has a current average price target of $7.80, with 2 analysts rating it as a Buy, 4 as Hold, and 1 as Sell.

ProPetro Holding Corp. (NYSE:PUMP - Free Report) - Equities research analysts at Zacks Research lifted their FY2027 earnings per share estimates for shares of ProPetro in a report released on Wednesday, September 24th. Zacks Research analyst Team now anticipates that the company will earn $0.38 per share for the year, up from their prior forecast of $0.36. Zacks Research has a "Strong Sell" rating on the stock. The consensus estimate for ProPetro's current full-year earnings is $0.25 per share.

ProPetro (NYSE:PUMP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.10). ProPetro had a negative net margin of 11.10% and a positive return on equity of 1.84%. The firm had revenue of $326.15 million for the quarter, compared to analyst estimates of $331.26 million. During the same period last year, the firm posted ($0.03) EPS. The business's revenue was down 9.2% compared to the same quarter last year.

PUMP has been the subject of a number of other research reports. Stifel Nicolaus set a $10.00 price target on ProPetro and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Citigroup dropped their target price on ProPetro from $6.50 to $5.00 and set a "neutral" rating on the stock in a report on Tuesday, September 9th. JPMorgan Chase & Co. cut their target price on ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Finally, Piper Sandler lowered their price target on ProPetro from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $7.80.

ProPetro Price Performance

NYSE PUMP opened at $5.33 on Thursday. The company has a 50-day moving average price of $5.08 and a two-hundred day moving average price of $5.70. ProPetro has a 52 week low of $4.51 and a 52 week high of $11.17. The stock has a market cap of $553.64 million, a price-to-earnings ratio of -3.62 and a beta of 1.13. The company has a current ratio of 1.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.07.

Hedge Funds Weigh In On ProPetro

Large investors have recently made changes to their positions in the business. Hsbc Holdings PLC raised its stake in ProPetro by 3.5% during the first quarter. Hsbc Holdings PLC now owns 49,858 shares of the company's stock worth $371,000 after acquiring an additional 1,675 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of ProPetro by 1.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 163,394 shares of the company's stock worth $975,000 after purchasing an additional 1,990 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in ProPetro by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company's stock valued at $379,000 after purchasing an additional 2,230 shares during the last quarter. Franklin Resources Inc. boosted its position in ProPetro by 4.4% in the second quarter. Franklin Resources Inc. now owns 56,941 shares of the company's stock valued at $340,000 after buying an additional 2,418 shares in the last quarter. Finally, SummerHaven Investment Management LLC grew its stake in ProPetro by 2.9% during the second quarter. SummerHaven Investment Management LLC now owns 99,361 shares of the company's stock worth $593,000 after buying an additional 2,789 shares during the last quarter. Institutional investors and hedge funds 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.

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