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Can ProPetro (PUMP) Run Higher on Rising Earnings Estimates?
ProPetro ProPetro (US:PUMP) Zacks Investment Researchยท2024-05-15 17:21

Core Viewpoint - ProPetro Holding (PUMP) is positioned as a strong investment opportunity due to its improving earnings outlook and positive analyst sentiment [1][2]. Earnings Estimate Revisions - Analysts are increasingly optimistic about ProPetro's earnings prospects, leading to a rising trend in estimate revisions, which is expected to positively impact the stock price [2]. - The current-quarter earnings estimate is projected at $0.15 per share, reflecting a year-over-year decline of 55.88%, but has seen a 22.22% increase in consensus estimates over the last 30 days with no negative revisions [5]. - For the full year, the earnings estimate stands at $0.67 per share, indicating an 11.84% decrease from the previous year, yet the consensus estimate has risen by 37.86% due to five upward revisions and no negative changes [6]. Zacks Rank and Performance - ProPetro has achieved a Zacks Rank of 2 (Buy), indicating strong agreement among analysts on the upward revisions of earnings estimates [8]. - Historically, stocks with Zacks Rank 1 (Strong Buy) and 2 (Buy) have significantly outperformed the S&P 500, suggesting a favorable outlook for ProPetro [8]. Stock Performance - ProPetro shares have increased by 18.4% over the past four weeks, indicating investor confidence in the company's earnings growth potential [9].