$0.29 Earnings Per Share Expected for RPC, Inc. (RES) This Quarter
Wall Street analysts expect RPC, Inc. (NYSE:RES) to report earnings per share (EPS) of $0.29 for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for RPC’s earnings, with estimates ranging from $0.26 to $0.35. RPC posted earnings per share of ($0.18) in the same quarter last year, which indicates a positive year-over-year growth rate of 261.1%. The company is expected to issue its next earnings report on Wednesday, October 25th.
On average, analysts expect that RPC will report full year earnings of $0.85 per share for the current financial year, with EPS estimates ranging from $0.74 to $1.20. For the next fiscal year, analysts anticipate that the business will report earnings of $1.40 per share, with EPS estimates ranging from $1.00 to $1.69. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow RPC.
RPC (NYSE:RES) last posted its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. The company had revenue of $399.00 million for the quarter, compared to analyst estimates of $415.65 million. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. The company’s quarterly revenue was up 179.0% compared to the same quarter last year.
A number of analysts have recently issued reports on RES shares. Barclays PLC started coverage on shares of RPC in a report on Tuesday, September 5th. They set an “equal weight” rating and a $19.00 price target on the stock. Jefferies Group LLC set a $26.00 price objective on shares of RPC and gave the stock a “buy” rating in a research note on Monday, August 28th. Morgan Stanley lowered their price objective on shares of RPC from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 21st. Cowen and Company reiterated a “hold” rating and issued a $24.00 price objective on shares of RPC in a research note on Friday, September 1st. Finally, Zacks Investment Research cut shares of RPC from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $22.69.
Shares of RPC (RES) opened at 22.71 on Wednesday. The stock has a 50 day moving average of $20.15 and a 200 day moving average of $19.42. RPC has a 52-week low of $15.01 and a 52-week high of $23.36. The company’s market cap is $4.94 billion.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Thursday, August 10th were paid a dividend of $0.06 per share. This is a boost from RPC’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.24 dividend on an annualized basis and a yield of 1.06%. RPC’s dividend payout ratio (DPR) is presently -183.30%.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RES. The Manufacturers Life Insurance Company raised its stake in RPC by 7.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock worth $132,000 after acquiring an additional 459 shares during the period. Meadow Creek Investment Management LLC raised its stake in RPC by 86.9% during the 1st quarter. Meadow Creek Investment Management LLC now owns 10,032 shares of the oil and gas company’s stock worth $184,000 after acquiring an additional 4,664 shares during the period. Pacer Advisors Inc. raised its stake in RPC by 22.0% during the 1st quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock worth $186,000 after acquiring an additional 1,830 shares during the period. BNP Paribas Arbitrage SA raised its stake in RPC by 40.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock worth $192,000 after acquiring an additional 3,048 shares during the period. Finally, Bbva Compass Bancshares Inc. bought a new stake in RPC during the 2nd quarter worth approximately $219,000. Institutional investors own 38.17% 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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