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%.
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.
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