Brokerages Expect RPC, Inc. (RES) to Announce $0.14 Earnings Per Share
Wall Street brokerages expect RPC, Inc. (NYSE:RES) to announce $0.14 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for RPC’s earnings. The highest EPS estimate is $0.18 and the lowest is $0.07. RPC posted earnings of ($0.23) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 160.9%. The company is scheduled to report its next quarterly earnings results before the market opens on Wednesday, July 26th.
On average, analysts expect that RPC will report full year earnings of $0.68 per share for the current year, with EPS estimates ranging from $0.45 to $0.85. For the next financial year, analysts expect that the business will report earnings of $1.41 per share, with EPS estimates ranging from $1.19 to $1.86. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for RPC.
RPC (NYSE:RES) last issued its earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.07. The firm had revenue of $399 million during the quarter, compared to the consensus estimate of $415.65 million. RPC had a negative return on equity of 12.86% and a negative net margin of 12.54%. The business’s quarterly revenue was up 179.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.23) earnings per share.
A number of brokerages have issued reports on RES. Jefferies Group LLC set a $26.00 price objective on RPC and gave the company a “buy” rating in a research note on Saturday, June 17th. Cowen and Company lifted their price objective on RPC from $20.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday. Zacks Investment Research cut RPC from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Piper Jaffray Companies reiterated a “neutral” rating and set a $20.50 price objective (up previously from $18.75) on shares of RPC in a research note on Wednesday, July 12th. Finally, BMO Capital Markets began coverage on RPC in a research note on Wednesday, April 12th. They set an “outperform” rating and a $24.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. RPC presently has an average rating of “Hold” and a consensus target price of $22.91.
A number of hedge funds have recently bought and sold shares of RES. MARSHALL WACE ASIA Ltd purchased a new stake in RPC during the first quarter worth approximately $28,788,000. Marshall Wace North America L.P. purchased a new stake in RPC during the first quarter worth approximately $28,788,000. Copper Rock Capital Partners LLC purchased a new stake in RPC during the first quarter worth approximately $19,204,000. Alliancebernstein L.P. boosted its stake in RPC by 21.6% in the first quarter. Alliancebernstein L.P. now owns 5,707,098 shares of the oil and gas company’s stock worth $104,497,000 after buying an additional 1,012,027 shares during the period. Finally, Investec Asset Management LTD purchased a new stake in RPC during the first quarter worth approximately $14,459,000. Institutional investors own 40.26% of the company’s stock.
RPC (NYSE:RES) opened at 21.24 on Thursday. The firm’s market cap is $4.63 billion. The firm’s 50-day moving average price is $20.22 and its 200 day moving average price is $19.68. RPC has a 52 week low of $13.49 and a 52 week high of $23.36.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Tuesday, August 8th. This is a boost from RPC’s previous quarterly dividend of $0.05. RPC’s dividend payout ratio is -10.20%.
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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