Wall Street analysts forecast that RPC, Inc. (NYSE:RES) will report $395.32 million in sales for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for RPC’s earnings. The highest sales estimate is $418.00 million and the lowest is $385.23 million. RPC posted sales of $427.30 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 7.5%. The firm is expected to issue its next earnings results on Wednesday, January 23rd.
According to Zacks, analysts expect that RPC will report full year sales of $1.74 billion for the current year, with estimates ranging from $1.73 billion to $1.76 billion. For the next financial year, analysts forecast that the business will report sales of $1.77 billion, with estimates ranging from $1.63 billion to $1.96 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow RPC.
RPC (NYSE:RES) last posted its earnings results on Wednesday, October 24th. The oil and gas company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The firm had revenue of $439.99 million during the quarter, compared to analysts’ expectations of $456.54 million. RPC had a return on equity of 20.77% and a net margin of 12.40%. RPC’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share.
Several equities research analysts have weighed in on the company. Bank of America reduced their price objective on RPC from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, October 25th. Seaport Global Securities reissued a “neutral” rating on shares of RPC in a research note on Thursday, July 26th. Wolfe Research set a $14.00 price objective on RPC and gave the stock a “sell” rating in a research note on Thursday, October 25th. Macquarie set a $13.00 price objective on RPC and gave the stock a “hold” rating in a research note on Thursday, October 25th. Finally, Cowen reduced their price objective on RPC from $15.00 to $12.00 and set a “market perform” rating on the stock in a research note on Friday, October 26th. Three equities research analysts have rated the stock with a sell rating and seventeen have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.35.
NYSE:RES opened at $14.88 on Thursday. RPC has a 12 month low of $12.96 and a 12 month high of $27.07. The stock has a market capitalization of $3.09 billion, a P/E ratio of 22.55, a PEG ratio of 0.89 and a beta of 0.84.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.69%. RPC’s dividend payout ratio is 60.61%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in RES. Wells Fargo & Company MN grew its stake in shares of RPC by 12.1% during the first quarter. Wells Fargo & Company MN now owns 103,424 shares of the oil and gas company’s stock valued at $1,865,000 after buying an additional 11,141 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of RPC by 29.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,506,058 shares of the oil and gas company’s stock valued at $27,154,000 after buying an additional 344,919 shares during the last quarter. Jane Street Group LLC bought a new position in shares of RPC during the first quarter valued at approximately $229,000. LPL Financial LLC grew its stake in shares of RPC by 136.4% during the first quarter. LPL Financial LLC now owns 20,809 shares of the oil and gas company’s stock valued at $375,000 after buying an additional 12,005 shares during the last quarter. Finally, Guggenheim Capital LLC grew its stake in shares of RPC by 60.8% during the first quarter. Guggenheim Capital LLC now owns 88,983 shares of the oil and gas company’s stock valued at $1,604,000 after buying an additional 33,636 shares during the last quarter. 31.83% of the stock is currently owned by hedge funds and other institutional investors.
RPC Company Profile
RPC, Inc provides a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services offers pressure pumping, fracturing, acidizing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.
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