ProPetro Holding (PUMP) Flat As Market Sinks: What You Should Know
In the latest trading session, ProPetro Holding (PUMP) closed at $10.02, marking no change from the previous day. This change was narrower than the S&P 500's 0.03% loss on the day. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq gained 3.16%.
Heading into today, shares of the oilfield services company had lost 8.07% over the past month, lagging the Oils-Energy sector's gain of 0.95% and the S&P 500's gain of 3.6% in that time.
Investors will be hoping for strength from ProPetro Holding as it approaches its next earnings release, which is expected to be February 21, 2023. On that day, ProPetro Holding is projected to report earnings of $0.34 per share, which would represent year-over-year growth of 270%. Meanwhile, our latest consensus estimate is calling for revenue of $338.19 million, up 37.44% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for ProPetro Holding. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.46% higher. ProPetro Holding is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, ProPetro Holding is holding a Forward P/E ratio of 4.49. This represents a discount compared to its industry's average Forward P/E of 13.55.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 51, which puts it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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ProPetro Holding Corp. (PUMP) : Free Stock Analysis Report
