RPC, Inc. (RES) to Post Q1 2018 Earnings of $0.26 Per Share, Jefferies Group Forecasts

RPC, Inc. (NYSE:RES) – Investment analysts at Jefferies Group dropped their Q1 2018 earnings per share estimates for RPC in a report released on Wednesday. Jefferies Group analyst B. Handler now expects that the oil and gas company will post earnings of $0.26 per share for the quarter, down from their previous forecast of $0.44. Jefferies Group has a “Hold” rating and a $29.00 price target on the stock. Jefferies Group also issued estimates for RPC’s Q2 2018 earnings at $0.34 EPS, Q3 2018 earnings at $0.41 EPS, Q4 2018 earnings at $0.43 EPS, FY2018 earnings at $1.45 EPS, FY2019 earnings at $1.90 EPS and FY2020 earnings at $2.25 EPS.

RES has been the topic of a number of other reports. Citigroup lowered RPC from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, October 26th. They noted that the move was a valuation call. Credit Suisse Group lowered 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. Morgan Stanley lowered RPC from an “equal weight” rating to an “underweight” rating and set a $25.00 price target on the stock. in a research note on Tuesday, November 14th. They noted that the move was a valuation call. Deutsche Bank initiated coverage on RPC in a research note on Tuesday, October 10th. They issued a “hold” rating and a $25.00 price target on the stock. Finally, BMO Capital Markets lifted their price target on RPC from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $24.74.

Shares of RPC (NYSE:RES) opened at $20.76 on Monday. The stock has a market capitalization of $4,500.00, a P/E ratio of 31.45, a PEG ratio of 0.69 and a beta of 1.14. RPC has a 12 month low of $16.63 and a 12 month high of $27.07.

RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, January 24th. The oil and gas company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.16). The business had revenue of $427.30 million during the quarter, compared to analyst estimates of $515.04 million. RPC had a net margin of 10.19% and a return on equity of 17.23%. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 9th will be given a dividend of $0.10 per share. This is an increase from RPC’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, February 8th. This represents a $0.40 dividend on an annualized basis and a yield of 1.93%. RPC’s dividend payout ratio (DPR) is presently 42.42%.

A number of institutional investors have recently made changes to their positions in the stock. Eqis Capital Management Inc. lifted its position in RPC by 13.1% during the fourth quarter. Eqis Capital Management Inc. now owns 22,171 shares of the oil and gas company’s stock worth $566,000 after buying an additional 2,561 shares in the last quarter. APG Asset Management N.V. purchased a new position in RPC during the fourth quarter worth approximately $2,507,000. CENTRAL TRUST Co purchased a new position in RPC during the fourth quarter worth approximately $147,000. First Quadrant L P CA purchased a new position in RPC during the fourth quarter worth approximately $3,420,000. Finally, State of Alaska Department of Revenue purchased a new position in RPC during the fourth quarter worth approximately $147,000. Hedge funds and other institutional investors own 38.04% of the company’s stock.

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About RPC

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.

Earnings History and Estimates for RPC (NYSE:RES)

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