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ProPetro Holding (PUMP) Stock Sinks As Market Gains: What You Should Know
ProPetro Holding (PUMP - Free Report) closed at $9.50 in the latest trading session, marking a -1.55% move from the prior day. This move lagged the S&P 500's daily gain of 0.25%. Meanwhile, the Dow gained 0.08%, and the Nasdaq, a tech-heavy index, added 7.26%.
Heading into today, shares of the oilfield services company had lost 6.13% over the past month, lagging the Oils-Energy sector's gain of 4.55% and the S&P 500's gain of 5.73% in that time.
ProPetro Holding will be looking to display strength as it nears 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.
Any recent changes to analyst estimates for ProPetro Holding should also be noted by investors. Recent revisions tend to reflect the latest 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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 sporting 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 4.33 right now. This represents a discount compared to its industry's average Forward P/E of 13.95.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% 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.