Zacks: Brokerages Expect RPC, Inc. (RES) Will Announce Quarterly Sales of $482.44 Million

Equities analysts expect RPC, Inc. (NYSE:RES) to report $482.44 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for RPC’s earnings. The highest sales estimate is $568.70 million and the lowest is $455.40 million. RPC posted sales of $298.12 million in the same quarter last year, which suggests a positive year over year growth rate of 61.8%. The business is scheduled to issue its next quarterly earnings report on Wednesday, April 25th.

According to Zacks, analysts expect that RPC will report full year sales of $482.44 million for the current fiscal year, with estimates ranging from $2.05 billion to $2.52 billion. For the next fiscal year, analysts expect that the business will report sales of $2.52 billion per share, with estimates ranging from $2.30 billion to $2.84 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover RPC.

RPC (NYSE:RES) last announced 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). The company had revenue of $427.30 million during the quarter, compared to the consensus estimate of $515.04 million. RPC had a net margin of 10.19% and a return on equity of 17.23%. The business’s revenue was up 93.3% compared to the same quarter last year. During the same period last year, the company earned ($0.10) earnings per share.

A number of analysts have recently commented on the company. Guggenheim set a $25.00 price target on RPC and gave the company a “buy” rating in a research note on Monday, January 29th. Credit Suisse Group lowered their price target on RPC from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. Wells Fargo & Co lowered their price target on RPC from $27.00 to $25.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. BMO Capital Markets lowered their price target on RPC from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, January 25th. Finally, B. Riley set a $27.00 price target on RPC and gave the company a “hold” rating in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. RPC has a consensus rating of “Hold” and a consensus target price of $24.75.

A number of large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its position 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 last quarter. Advisory Services Network LLC boosted its position in RPC by 15.9% during the 2nd quarter. Advisory Services Network LLC now owns 13,028 shares of the oil and gas company’s stock worth $263,000 after acquiring an additional 1,790 shares during the last quarter. Northern Trust Corp boosted its position in RPC by 0.5% during the 2nd quarter. Northern Trust Corp now owns 369,609 shares of the oil and gas company’s stock worth $7,470,000 after acquiring an additional 1,951 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in RPC by 12.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 21,424 shares of the oil and gas company’s stock worth $433,000 after acquiring an additional 2,372 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in RPC by 1.1% during the 3rd quarter. California Public Employees Retirement System now owns 243,549 shares of the oil and gas company’s stock worth $6,038,000 after acquiring an additional 2,549 shares during the last quarter. 37.74% of the stock is owned by hedge funds and other institutional investors.

Shares of RPC (NYSE RES) opened at $17.68 on Friday. The company has a market capitalization of $3,650.00, a PE ratio of 26.79, a PEG ratio of 0.63 and a beta of 0.73. RPC has a 52 week low of $16.63 and a 52 week high of $27.07.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 9th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.26%. This is a boost from RPC’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, February 8th. RPC’s dividend payout ratio is presently 60.61%.

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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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