Zacks: Analysts Expect RPC, Inc. (RES) to Announce $0.34 EPS

Equities analysts forecast that RPC, Inc. (NYSE:RES) will post $0.34 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for RPC’s earnings. The lowest EPS estimate is $0.31 and the highest is $0.36. RPC reported earnings of ($0.10) per share in the same quarter last year, which suggests a positive year over year growth rate of 440%. The company is expected to issue its next quarterly earnings results on Wednesday, January 24th.

On average, analysts expect that RPC will report full-year earnings of $0.82 per share for the current year, with EPS estimates ranging from $0.79 to $0.85. For the next fiscal year, analysts expect that the business will report earnings of $1.53 per share, with EPS estimates ranging from $1.39 to $1.75. Zacks’ EPS calculations are a mean average based on a survey of research firms that follow RPC.

RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, October 25th. The oil and gas company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03). The firm had revenue of $471.00 million for the quarter, compared to the consensus estimate of $474.41 million. RPC had a net margin of 6.03% and a return on equity of 10.31%. The business’s revenue for the quarter was up 167.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.18) earnings per share.

Several equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of RPC from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Tuesday, October 17th. Cowen set a $24.00 price target on shares of RPC and gave the company a “hold” rating in a report on Friday, October 6th. Jefferies Group set a $25.00 price target on shares of RPC and gave the company a “hold” rating in a report on Thursday, October 26th. Raymond James Financial downgraded shares of RPC from a “strong-buy” rating to an “outperform” rating in a report on Thursday, October 26th. Finally, BMO Capital Markets upped their price target on shares of RPC from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $24.23.

In related news, Director Amy Rollins Kreisler acquired 5,000 shares of the stock in a transaction on Friday, October 27th. The stock was bought at an average cost of $23.21 per share, with a total value of $116,050.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $116,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 73.50% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Commerce Bank lifted its position in shares of RPC by 4.4% in the 2nd quarter. Commerce Bank now owns 659,446 shares of the oil and gas company’s stock worth $13,328,000 after purchasing an additional 27,686 shares during the period. Russell Investments Group Ltd. lifted its position in shares of RPC by 12.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 186,991 shares of the oil and gas company’s stock worth $3,779,000 after purchasing an additional 20,832 shares during the period. Victory Capital Management Inc. lifted its position in shares of RPC by 16.5% in the 2nd quarter. Victory Capital Management Inc. now owns 599,280 shares of the oil and gas company’s stock worth $12,111,000 after purchasing an additional 84,880 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of RPC by 11.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 340,267 shares of the oil and gas company’s stock worth $6,877,000 after purchasing an additional 34,317 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of RPC by 41.8% in the 2nd quarter. Principal Financial Group Inc. now owns 16,357 shares of the oil and gas company’s stock worth $331,000 after purchasing an additional 4,822 shares during the period. 38.12% of the stock is owned by hedge funds and other institutional investors.

RPC (NYSE:RES) opened at $24.87 on Friday. The company has a market cap of $5,102.76, a PE ratio of 60.41, a P/E/G ratio of 1.60 and a beta of 1.16. RPC has a fifty-two week low of $16.63 and a fifty-two week high of $26.45.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 10th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.13%. This is a boost from RPC’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, November 9th. RPC’s payout ratio is 73.69%.

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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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Earnings History and Estimates for RPC (NYSE:RES)

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