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ProPetro Holding (PUMP) Flat As Market Gains: What You Should Know
ProPetro Holding (PUMP - Free Report) closed at $9.65 in the latest trading session, marking no change from the prior day. This move lagged the S&P 500's daily gain of 1.1%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 6.59%.
Heading into today, shares of the oilfield services company had lost 1.83% over the past month, lagging the Oils-Energy sector's gain of 2.39% and the S&P 500's gain of 4.58% 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.
Investors might also notice recent changes to analyst estimates for ProPetro Holding. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Within the past 30 days, our consensus EPS projection has moved 1.46% higher. ProPetro Holding is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, ProPetro Holding is currently trading at a Forward P/E ratio of 4.33. For comparison, its industry has an average Forward P/E of 13.86, which means ProPetro Holding is trading at a discount to the group.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.