$226.91 Million in Sales Expected for ProPetro Holding Corp. (NYSE:PUMP) This Quarter

Analysts forecast that ProPetro Holding Corp. (NYSE:PUMP) will announce sales of $226.91 million for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have made estimates for ProPetro’s earnings, with the highest sales estimate coming in at $247.12 million and the lowest estimate coming in at $215.00 million. ProPetro posted sales of $133.71 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 69.7%. The firm is expected to issue its next earnings report on Monday, November 1st.

On average, analysts expect that ProPetro will report full year sales of $831.11 million for the current financial year, with estimates ranging from $802.66 million to $866.01 million. For the next financial year, analysts expect that the firm will report sales of $1.08 billion, with estimates ranging from $995.74 million to $1.17 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow ProPetro.

ProPetro (NYSE:PUMP) last posted its quarterly earnings data on Tuesday, August 3rd. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The firm had revenue of $216.89 million for the quarter, compared to analysts’ expectations of $203.42 million. ProPetro had a negative return on equity of 8.16% and a negative net margin of 15.33%.

In other ProPetro news, Director Spencer D. Armour III sold 32,931 shares of ProPetro stock in a transaction on Tuesday, July 6th. The shares were sold at an average price of $8.90, for a total transaction of $293,085.90. Following the completion of the transaction, the director now directly owns 87,446 shares of the company’s stock, valued at $778,269.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in PUMP. Bank of New York Mellon Corp increased its holdings in shares of ProPetro by 9.1% during the first quarter. Bank of New York Mellon Corp now owns 1,055,193 shares of the company’s stock valued at $11,249,000 after acquiring an additional 87,646 shares in the last quarter. Monarch Partners Asset Management LLC acquired a new position in shares of ProPetro during the first quarter valued at about $1,551,000. Cornercap Investment Counsel Inc. acquired a new position in shares of ProPetro during the first quarter valued at about $1,185,000. Guggenheim Capital LLC increased its holdings in shares of ProPetro by 84.2% during the first quarter. Guggenheim Capital LLC now owns 92,152 shares of the company’s stock valued at $982,000 after acquiring an additional 42,121 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of ProPetro by 57.3% during the first quarter. Russell Investments Group Ltd. now owns 282,689 shares of the company’s stock valued at $3,012,000 after acquiring an additional 102,920 shares in the last quarter. Hedge funds and other institutional investors own 76.04% of the company’s stock.

NYSE PUMP traded down $0.18 on Tuesday, hitting $7.79. 618,532 shares of the stock were exchanged, compared to its average volume of 994,425. The stock has a fifty day moving average price of $7.70 and a two-hundred day moving average price of $9.65. The firm has a market capitalization of $804.40 million, a P/E ratio of -7.71 and a beta of 3.30. ProPetro has a 52-week low of $3.58 and a 52-week high of $13.99.

ProPetro Company Profile

ProPetro Holding Corp. is an oilfield services company that engages in the provision of hydraulic fracturing and other complementary services. It operates through the following segments: Hydraulic Fracturing, Cementing, Coil Tubing, Flowback, and Drilling. The Hydraulic Fracturing segment intends to optimize hydrocarbon flow paths during the completion phase of horizontal shale wellbores.

Further Reading: Capital Gains

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)

Receive News & Ratings for ProPetro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProPetro and related companies with MarketBeat.com's FREE daily email newsletter.