RPC, Inc. (NYSE:RES) – Equities research analysts at Seaport Global Securities lowered their Q1 2018 earnings per share (EPS) estimates for shares of RPC in a research note issued to investors on Thursday. Seaport Global Securities analyst S. Randhawa now expects that the oil and gas company will earn $0.28 per share for the quarter, down from their previous forecast of $0.33. Seaport Global Securities also issued estimates for RPC’s Q3 2019 earnings at $0.51 EPS and FY2019 earnings at $1.87 EPS.
A number of other equities research analysts have also recently commented on RES. Jefferies Group cut RPC from a “buy” rating to a “hold” rating and set a $26.00 price target for the company. in a research note on Thursday, October 5th. Citigroup increased their price target on RPC from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, October 5th. Cowen set a $24.00 price target on RPC and gave the company a “hold” rating in a research note on Friday, October 6th. Deutsche Bank started coverage on RPC in a research note on Tuesday, October 10th. They issued a “hold” rating and a $25.00 price target for the company. Finally, Credit Suisse Group cut RPC from an “outperform” rating to a “neutral” rating in a research note on Friday, October 13th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $24.74.
RPC (NYSE:RES) last released its quarterly earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.16). RPC had a net margin of 10.19% and a return on equity of 17.23%. The business had revenue of $427.30 million during the quarter, compared to analysts’ expectations of $515.04 million. During the same quarter last year, the business posted ($0.10) earnings per share. The company’s quarterly revenue was up 93.3% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 9th will be issued a $0.10 dividend. The ex-dividend date is Thursday, February 8th. This is a positive change from RPC’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.93%. RPC’s dividend payout ratio is currently 42.42%.
Several hedge funds have recently made changes to their positions in the company. Eqis Capital Management Inc. increased its holdings in shares of RPC by 13.1% in the fourth quarter. Eqis Capital Management Inc. now owns 22,171 shares of the oil and gas company’s stock valued at $566,000 after purchasing an additional 2,561 shares during the period. APG Asset Management N.V. acquired a new position in shares of RPC in the fourth quarter valued at about $2,507,000. CENTRAL TRUST Co acquired a new position in shares of RPC in the fourth quarter valued at about $147,000. First Quadrant L P CA acquired a new position in shares of RPC in the fourth quarter valued at about $3,420,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of RPC in the fourth quarter valued at about $147,000. 38.04% of the stock is currently owned by institutional investors and hedge funds.
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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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