Zacks Research Comments on ProPetro Holding Corp.’s Q2 2024 Earnings (NYSE:PUMP)

ProPetro Holding Corp. (NYSE:PUMPFree Report) – Investment analysts at Zacks Research reduced their Q2 2024 earnings per share estimates for shares of ProPetro in a research note issued on Monday, April 1st. Zacks Research analyst N. Choudhury now anticipates that the company will post earnings per share of $0.12 for the quarter, down from their previous estimate of $0.13. The consensus estimate for ProPetro’s current full-year earnings is $0.49 per share. Zacks Research also issued estimates for ProPetro’s Q3 2024 earnings at $0.17 EPS, FY2024 earnings at $0.45 EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at $0.19 EPS, FY2025 earnings at $0.59 EPS and Q1 2026 earnings at $0.16 EPS.

PUMP has been the subject of a number of other research reports. TheStreet cut ProPetro from a “b-” rating to a “c+” rating in a research note on Monday, January 8th. Benchmark lowered ProPetro from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th.

Read Our Latest Stock Analysis on ProPetro

ProPetro Stock Up 0.8 %

Shares of NYSE:PUMP opened at $7.97 on Tuesday. The stock has a fifty day simple moving average of $7.80 and a two-hundred day simple moving average of $8.74. The stock has a market capitalization of $857.33 million, a price-to-earnings ratio of 10.77 and a beta of 2.13. ProPetro has a 12-month low of $6.33 and a 12-month high of $11.37. 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 (NYSE:PUMPGet Free Report) last released its earnings results on Wednesday, February 21st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.24). The firm had revenue of $347.80 million during the quarter, compared to analysts’ expectations of $351.50 million. ProPetro had a net margin of 5.25% and a return on equity of 10.26%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS.

Institutional Trading of ProPetro

Hedge funds have recently bought and sold shares of the stock. Chilton Capital Management LLC purchased a new position in shares of ProPetro in the first quarter valued at about $33,000. Quarry LP lifted its position in shares of ProPetro by 119.4% in the second quarter. Quarry LP now owns 5,611 shares of the company’s stock valued at $46,000 after acquiring an additional 3,054 shares in the last quarter. US Bancorp DE lifted its position in shares of ProPetro by 32.3% in the second quarter. US Bancorp DE now owns 6,035 shares of the company’s stock valued at $50,000 after acquiring an additional 1,472 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of ProPetro in the first quarter valued at about $108,000. Finally, Signaturefd LLC lifted its position in shares of ProPetro by 47.1% in the fourth quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock valued at $66,000 after acquiring an additional 2,542 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

About ProPetro

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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.

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Earnings History and Estimates for ProPetro (NYSE:PUMP)

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