ProPetro Holding (PUMP) closed at $9.98 in the latest trading session, marking a +0.2% move from the prior day. This change outpaced the S&P 500’s 1.11% loss on the day. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq lost 2.13%.
Coming into today, shares of the oilfield services company had lost 5.68% in the past month. In that same time, the Oils-Energy sector gained 2.43%, while the S&P 500 gained 7%.
ProPetro Holding will be looking to display strength as it nears its next earnings release, which is expected to be February 21, 2023. The company is expected to report EPS of $0.34, up 270% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $338.19 million, up 37.44% from the year-ago period.
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. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.46% higher within the past month. ProPetro Holding currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that ProPetro Holding has a Forward P/E ratio of 4.47 right now. This represents a discount compared to its industry’s average Forward P/E of 13.59.
The Oil and Gas – Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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ProPetro Holding Corp. (PUMP) : Free Stock Analysis Report
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