Equities research analysts expect Propetro Holding Corp (NYSE:PUMP) to post $515.24 million in sales for the current fiscal quarter, Zacks reports. Twenty analysts have made estimates for Propetro’s earnings. The highest sales estimate is $556.90 million and the lowest is $477.45 million. Propetro posted sales of $385.22 million during the same quarter last year, which would indicate a positive year over year growth rate of 33.8%. The company is expected to issue its next earnings results on Tuesday, May 14th.
According to Zacks, analysts expect that Propetro will report full-year sales of $2.11 billion for the current year, with estimates ranging from $1.70 billion to $2.30 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.24 billion, with estimates ranging from $1.56 billion to $2.70 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Propetro.
A number of equities research analysts have issued reports on the company. Goldman Sachs Group assumed coverage on Propetro in a research report on Sunday, March 10th. They set a “buy” rating and a $28.00 price target for the company. Cowen reissued a “buy” rating and set a $28.00 price target on shares of Propetro in a research report on Thursday, February 28th. Royal Bank of Canada reissued a “buy” rating and set a $24.00 price target on shares of Propetro in a research report on Thursday, February 28th. Credit Suisse Group boosted their price target on Propetro from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, February 28th. Finally, ValuEngine raised Propetro from a “sell” rating to a “hold” rating in a research report on Monday, February 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Propetro has a consensus rating of “Buy” and a consensus price target of $25.50.
ProPetro Holding Corp., an oilfield services company, provides pressure pumping and other related services. The company offers hydraulic fracturing services; and a suite of well completion and production services, including cementing, acidizing, coiled tubing, flowback, surface air drilling, and drilling services.
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