-$0.04 EPS Expected for RPC, Inc. (RES) This Quarter
Wall Street analysts expect RPC, Inc. (NYSE:RES) to report ($0.04) earnings per share (EPS) for the current quarter, according to Zacks. Six analysts have issued estimates for RPC’s earnings. The lowest EPS estimate is ($0.05) and the highest is ($0.02). RPC reported earnings of ($0.15) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 73.3%. The business is expected to report its next quarterly earnings results before the market opens on Wednesday, April 26th.
According to Zacks, analysts expect that RPC will report full-year earnings of $0.21 per share for the current financial year, with EPS estimates ranging from $0.04 to $0.35. For the next fiscal year, analysts expect that the firm will report earnings of $1.06 per share, with EPS estimates ranging from $0.41 to $1.70. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow RPC.
RPC (NYSE:RES) last issued its earnings results on Wednesday, January 25th. The oil and gas company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. RPC had a negative return on equity of 16.10% and a negative net margin of 19.38%. The company had revenue of $221 million for the quarter, compared to analyst estimates of $204.55 million. During the same period in the prior year, the firm posted ($0.18) EPS. The business’s revenue was down 17.6% compared to the same quarter last year.
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A number of equities analysts have weighed in on RES shares. SunTrust Banks, Inc. started coverage on RPC in a research report on Wednesday, January 18th. They set a “buy” rating and a $25.00 price target on the stock. Nomura raised RPC from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $18.00 to $26.00 in a research report on Tuesday, January 17th. Instinet raised RPC from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, January 17th. Zacks Investment Research raised RPC from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, December 28th. Finally, Guggenheim raised RPC from a “neutral” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Thursday, January 26th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $22.75.
Several large investors have recently modified their holdings of RES. Elkfork Partners LLC bought a new stake in shares of RPC during the fourth quarter valued at about $164,000. Canada Pension Plan Investment Board bought a new stake in shares of RPC during the third quarter valued at about $170,000. OZ Management LP boosted its stake in shares of RPC by 81.0% in the third quarter. OZ Management LP now owns 15,200 shares of the oil and gas company’s stock valued at $255,000 after buying an additional 6,800 shares during the period. Seven Eight Capital LP bought a new stake in shares of RPC during the fourth quarter valued at about $346,000. Finally, Tudor Investment Corp Et Al bought a new stake in shares of RPC during the fourth quarter valued at about $388,000. Institutional investors and hedge funds own 37.31% of the company’s stock.
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RPC (NYSE:RES) opened at 17.89 on Thursday. The firm has a 50-day moving average price of $18.62 and a 200 day moving average price of $19.41. RPC has a 12 month low of $13.12 and a 12 month high of $23.36. The firm’s market capitalization is $3.90 billion.
RPC Company Profile
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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