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

ProPetro Holding Corp. (NYSE:PUMP) – Research analysts at Zacks Research lowered their Q3 2024 earnings per share estimates for shares of ProPetro in a research note issued to investors on Friday, April 26th. Zacks Research analyst N. Choudhury now anticipates that the company will post earnings per share of $0.16 for the quarter, down from their previous estimate 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.

A number of other research firms have also commented on PUMP. Benchmark lowered ProPetro from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. TheStreet lowered ProPetro from a “b-” rating to a “c+” rating in a research note on Monday, January 8th.

ProPetro Stock Performance

NYSE:PUMP opened at $8.73 on Monday. The stock has a market cap of $939.09 million, a P/E ratio of 11.80 and a beta of 2.13. The stock has a 50 day simple moving average of $7.97 and a 200 day simple moving average of $8.51. The company has a current ratio of 1.15, a quick ratio of 1.08 and a debt-to-equity ratio of 0.05. ProPetro has a 1-year low of $6.33 and a 1-year high of $11.37.

ProPetro (NYSE:PUMP) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.24). The firm had revenue of $347.80 million for the quarter, compared to analyst estimates of $351.50 million. ProPetro had a return on equity of 10.26% and a net margin of 5.25%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share.

Hedge Funds Weigh In On ProPetro

Hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank increased its stake in shares of ProPetro by 1.0% in the 3rd quarter. Swiss National Bank now owns 190,000 shares of the company’s stock valued at $2,020,000 after purchasing an additional 1,900 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of ProPetro by 4.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 56,195 shares of the company’s stock valued at $471,000 after purchasing an additional 2,171 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of ProPetro by 7.4% in the 3rd quarter. Hsbc Holdings PLC now owns 31,415 shares of the company’s stock valued at $334,000 after purchasing an additional 2,172 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of ProPetro by 3.5% in the 3rd quarter. New York State Common Retirement Fund now owns 74,983 shares of the company’s stock valued at $797,000 after purchasing an additional 2,521 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of ProPetro by 47.1% in the 4th quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock valued at $66,000 after purchasing an additional 2,542 shares during the last quarter. Institutional investors own 84.70% of the company’s stock.

About ProPetro

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.