Q3 2016 Earnings Forecast for RPC Inc. (RES) Issued By Seaport Global Securities
RPC Inc. (NYSE:RES) – Investment analysts at Seaport Global Securities upped their Q3 2016 EPS estimates for RPC in a research report issued on Tuesday. Seaport Global Securities analyst M. Brown now forecasts that the brokerage will post earnings of ($0.20) per share for the quarter, up from their prior estimate of ($0.23). Seaport Global Securities has a “Reduce” rating on the stock. Seaport Global Securities also issued estimates for RPC’s Q4 2016 earnings at ($0.17) EPS, Q1 2017 earnings at ($0.14) EPS, Q2 2017 earnings at ($0.10) EPS, Q3 2017 earnings at ($0.05) EPS, Q4 2017 earnings at ($0.01) EPS, FY2017 earnings at ($0.30) EPS, Q1 2018 earnings at $0.06 EPS, Q3 2018 earnings at $0.16 EPS and FY2018 earnings at $0.52 EPS.
RES has been the subject of several other reports. GMP Securities upgraded shares of RPC from a “reduce” rating to a “hold” rating in a research note on Thursday, July 28th. Citigroup Inc. upped their target price on shares of RPC from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, September 12th. Finally, Nomura set a $14.00 target price on shares of RPC and gave the company a “hold” rating in a research note on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.67.
Shares of RPC (NYSE:RES) traded up 1.83% during midday trading on Thursday, reaching $17.83. 504,861 shares of the company traded hands. RPC has a 12 month low of $9.73 and a 12 month high of $17.85. The company has a 50 day moving average of $15.64 and a 200 day moving average of $14.90. The firm’s market capitalization is $3.88 billion.
RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.23) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.23). RPC had a negative net margin of 17.29% and a negative return on equity of 16.53%. The firm had revenue of $143 million for the quarter, compared to analyst estimates of $149.41 million. During the same period last year, the business earned ($0.16) EPS. RPC’s revenue for the quarter was down 51.9% compared to the same quarter last year.
Several hedge funds have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA boosted its stake in RPC by 1.2% in the second quarter. Glenmede Trust Co. NA now owns 9,106 shares of the company’s stock worth $141,000 after buying an additional 106 shares during the period. Utah Retirement Systems boosted its stake in RPC by 2.9% in the second quarter. Utah Retirement Systems now owns 10,560 shares of the company’s stock worth $164,000 after buying an additional 300 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in RPC by 4.9% in the third quarter. Independent Portfolio Consultants Inc. now owns 12,820 shares of the company’s stock worth $215,000 after buying an additional 600 shares during the period. Teacher Retirement System of Texas boosted its stake in RPC by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,093 shares of the company’s stock worth $141,000 after buying an additional 1,103 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in RPC by 27.5% in the third quarter. BNP Paribas Arbitrage SA now owns 6,118 shares of the company’s stock worth $103,000 after buying an additional 1,319 shares during the period. 34.92% of the stock is currently owned by institutional investors and hedge funds.
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 to oil and gas companies engaged in the exploration, production and development of oil and gas properties across 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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