ProPetro Holding Corp. (NYSE:PUMP) Expected to Announce Earnings of -$0.03 Per Share

Wall Street analysts predict that ProPetro Holding Corp. (NYSE:PUMP) will post earnings per share of ($0.03) for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for ProPetro’s earnings, with estimates ranging from ($0.09) to $0.06. ProPetro reported earnings of ($0.29) per share in the same quarter last year, which would suggest a positive year over year growth rate of 89.7%. The company is expected to report its next quarterly earnings report after the market closes on Tuesday, November 2nd.

According to Zacks, analysts expect that ProPetro will report full-year earnings of ($0.35) per share for the current year, with EPS estimates ranging from ($0.52) to ($0.16). For the next fiscal year, analysts expect that the firm will post earnings of $0.25 per share, with EPS estimates ranging from ($0.23) to $0.72. Zacks’ EPS averages 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 earnings results on Tuesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.02). The company had revenue of $216.89 million for the quarter, compared to analysts’ expectations of $203.42 million. ProPetro had a negative net margin of 15.33% and a negative return on equity of 8.16%.

Separately, Atb Cap Markets upgraded ProPetro from a “sector perform” rating to an “outperform” rating in a report on Saturday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, ProPetro currently has a consensus rating of “Hold” and a consensus target price of $9.75.

ProPetro stock traded up $0.29 during mid-day trading on Wednesday, reaching $10.22. 918,853 shares of the company’s stock were exchanged, compared to its average volume of 1,002,040. The business’s fifty day simple moving average is $7.99 and its 200 day simple moving average is $9.19. The firm has a market capitalization of $1.06 billion, a PE ratio of -10.12 and a beta of 3.30. ProPetro has a one year low of $3.58 and a one year high of $13.99.

In other news, Director Spencer D. Armour III sold 98,793 shares of the company’s stock in a transaction dated Tuesday, October 5th. The stock was sold at an average price of $9.97, for a total value of $984,966.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its stake in ProPetro by 9.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,055,193 shares of the company’s stock valued at $11,249,000 after purchasing an additional 87,646 shares during the last quarter. Trexquant Investment LP purchased a new stake in ProPetro during the 2nd quarter valued at $305,000. Cornercap Investment Counsel Inc. purchased a new stake in ProPetro during the 1st quarter valued at $1,185,000. Guggenheim Capital LLC boosted its stake in ProPetro by 84.2% during the 1st quarter. Guggenheim Capital LLC now owns 92,152 shares of the company’s stock valued at $982,000 after purchasing an additional 42,121 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of ProPetro by 10.8% during the 1st quarter. Bank of Montreal Can now owns 1,175,648 shares of the company’s stock valued at $12,286,000 after buying an additional 114,819 shares during the period. Institutional investors and hedge funds own 76.04% of the company’s stock.

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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Earnings History and Estimates for ProPetro (NYSE:PUMP)

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