ProPetro Holding Corp. (NYSE:PUMP) Forecasted to Post Q3 2024 Earnings of $0.16 Per Share

ProPetro Holding Corp. (NYSE:PUMP) – Analysts at Zacks Research cut their Q3 2024 EPS estimates for shares of ProPetro in a research report issued on Friday, April 26th. Zacks Research analyst N. Choudhury now expects that the company will post earnings of $0.16 per share 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 announced its 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). The business had revenue of $347.80 million during the quarter, compared to analyst estimates of $351.50 million. ProPetro had a net margin of 5.25% and a return on equity of 10.26%. The business’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 earnings per share.

Other equities analysts have also issued reports about the stock. Benchmark lowered shares of ProPetro from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. TheStreet lowered shares of ProPetro from a “b-” rating to a “c+” rating in a research report on Monday, January 8th.

ProPetro Stock Performance

Shares of ProPetro stock opened at $8.73 on Monday. The firm’s fifty day simple moving average is $7.97 and its 200-day simple moving average is $8.51. ProPetro has a 12 month low of $6.33 and a 12 month high of $11.37. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.15 and a quick ratio of 1.08. The stock has a market capitalization of $939.09 million, a price-to-earnings ratio of 11.80 and a beta of 2.13.

Institutional Investors Weigh In On ProPetro

Several institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in ProPetro in the 3rd quarter valued at about $145,000. Exchange Traded Concepts LLC acquired a new position in shares of ProPetro during the 3rd quarter valued at about $388,000. Raymond James & Associates increased its stake in shares of ProPetro by 11.9% during the 3rd quarter. Raymond James & Associates now owns 109,595 shares of the company’s stock valued at $1,165,000 after acquiring an additional 11,686 shares during the last quarter. Bailard Inc. acquired a new position in shares of ProPetro during the 3rd quarter valued at about $267,000. Finally, New York State Teachers Retirement System increased its stake in shares of ProPetro by 7.6% during the 3rd quarter. New York State Teachers Retirement System now owns 104,464 shares of the company’s stock valued at $1,110,000 after acquiring an additional 7,343 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other 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.