RPC, Inc. (NYSE:RES) Expected to Post Earnings of $0.13 Per Share
Wall Street analysts expect that RPC, Inc. (NYSE:RES) will announce earnings per share (EPS) of $0.13 for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for RPC’s earnings, with the highest EPS estimate coming in at $0.16 and the lowest estimate coming in at $0.07. RPC posted earnings per share of ($0.23) during the same quarter last year, which indicates a positive year-over-year growth rate of 156.5%. The company is scheduled to report its next quarterly earnings results on Wednesday, July 26th.
On average, analysts expect that RPC will report full-year earnings of $0.63 per share for the current fiscal year, with EPS estimates ranging from $0.42 to $0.85. For the next financial year, analysts anticipate that the business will report earnings of $1.41 per share, with EPS estimates ranging from $1.11 to $1.86. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow RPC.
RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, April 26th. The oil and gas company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. RPC had a negative return on equity of 12.86% and a negative net margin of 12.54%. The company had revenue of $298.12 million during the quarter, compared to analyst estimates of $273.35 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. RPC’s revenue was up 57.7% compared to the same quarter last year.
A number of equities analysts recently issued reports on RES shares. Zacks Investment Research lowered RPC from a “buy” rating to a “hold” rating in a research note on Friday, March 10th. Tudor Pickering started coverage on RPC in a research note on Thursday, March 23rd. They issued a “buy” rating for the company. Morgan Stanley reduced their target price on RPC from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 21st. Jefferies Group LLC set a $26.00 target price on RPC and gave the stock a “buy” rating in a research note on Wednesday, May 17th. Finally, Wolfe Research lowered RPC from an “outperform” rating to a “market perform” rating and set a $20.00 price objective for the company. in a research note on Monday, April 17th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $22.81.
Shares of RPC (NYSE RES) traded up 0.20% during mid-day trading on Friday, hitting $20.21. The company had a trading volume of 1,666,920 shares. RPC has a 1-year low of $13.49 and a 1-year high of $23.36. The company has a 50-day moving average price of $19.53 and a 200-day moving average price of $19.67. The company’s market capitalization is $4.40 billion.
Large investors have recently bought and sold shares of the stock. Flinton Capital Management LLC boosted its stake in RPC by 86.9% in the first quarter. Flinton Capital Management LLC now owns 7,296 shares of the oil and gas company’s stock worth $134,000 after buying an additional 3,392 shares during the period. Elkfork Partners LLC acquired a new stake in RPC during the fourth quarter worth approximately $164,000. Meadow Creek Investment Management LLC boosted its stake in RPC by 86.9% in the first quarter. Meadow Creek Investment Management LLC now owns 10,032 shares of the oil and gas company’s stock worth $184,000 after buying an additional 4,664 shares during the period. Pacer Advisors Inc. boosted its stake in RPC by 22.0% in the first quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock worth $186,000 after buying an additional 1,830 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in RPC by 40.9% in the first quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock worth $192,000 after buying an additional 3,048 shares during the period. Hedge funds and other institutional investors own 39.92% of the company’s stock.
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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