ProPetro Holding Corp. (NYSE:PUMP) to Post Q2 2023 Earnings of $0.36 Per Share, Atb Cap Markets Forecasts

Posted by on May 6th, 2023

ProPetro Holding Corp. (NYSE:PUMP – Get Rating) – Atb Cap Markets lowered their Q2 2023 earnings per share estimates for ProPetro in a research report issued on Wednesday, May 3rd. Atb Cap Markets analyst W. Syed now forecasts that the company will post earnings of $0.36 per share for the quarter, down from their previous estimate of $0.42. The consensus estimate for ProPetro’s current full-year earnings is $2.18 per share. Atb Cap Markets also issued estimates for ProPetro’s Q3 2023 earnings at $0.35 EPS, Q4 2023 earnings at $0.33 EPS, Q1 2024 earnings at $0.38 EPS, Q2 2024 earnings at $0.41 EPS and Q1 2025 earnings at $0.40 EPS.

Other equities analysts have also issued reports about the company. Benchmark assumed coverage on ProPetro in a research note on Thursday, January 19th. They set a “hold” rating for the company. Barclays upgraded ProPetro from an “equal weight” rating to an “overweight” rating and set a $14.00 price objective on the stock in a research report on Tuesday, January 10th. Finally, Citigroup downgraded ProPetro from a “buy” rating to a “neutral” rating and set a $12.00 price objective on the stock. in a research report on Tuesday, January 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, ProPetro presently has a consensus rating of “Hold” and an average price target of $13.95.

ProPetro Price Performance

Shares of ProPetro stock opened at $6.76 on Friday. The stock has a 50 day moving average of $7.67 and a 200 day moving average of $9.40. ProPetro has a 12 month low of $6.33 and a 12 month high of $14.34. The firm has a market cap of $778.55 million, a PE ratio of 676.00 and a beta of 2.34. The company has a current ratio of 1.21, a quick ratio of 1.14 and a debt-to-equity ratio of 0.03.

ProPetro (NYSE:PUMP – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). ProPetro had a return on equity of 16.74% and a net margin of 1.33%. The business had revenue of $348.92 million during the quarter, compared to the consensus estimate of $338.19 million.

Hedge Funds Weigh In On ProPetro

A number of hedge funds have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its stake in ProPetro by 3.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 29,075 shares of the company’s stock worth $234,000 after purchasing an additional 1,054 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in ProPetro by 14.0% in the third quarter. Tower Research Capital LLC TRC now owns 9,493 shares of the company’s stock valued at $77,000 after buying an additional 1,163 shares in the last quarter. Texas Permanent School Fund raised its stake in ProPetro by 2.0% in the third quarter. Texas Permanent School Fund now owns 63,037 shares of the company’s stock valued at $507,000 after buying an additional 1,256 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in ProPetro by 18.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,365 shares of the company’s stock valued at $67,000 after buying an additional 1,296 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of ProPetro by 10.6% during the third quarter. Creative Planning now owns 13,570 shares of the company’s stock worth $109,000 after purchasing an additional 1,296 shares during the last quarter. Institutional investors and hedge funds own 88.58% of the company’s stock.

ProPetro Company Profile

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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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