Q2 2018 EPS Estimates for RPC Inc. Raised by Seaport Global Securities (RES)
RPC Inc. (NYSE:RES) – Research analysts at Seaport Global Securities lifted their Q2 2018 EPS estimates for shares of RPC in a research note issued on Tuesday. Seaport Global Securities analyst M. Brown now expects that the firm will post earnings of $0.10 per share for the quarter, up from their prior estimate of $0.05. Seaport Global Securities currently has a “Reduce” rating on the stock.
RPC (NYSE:RES) last issued its earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.23). RPC had a negative return on equity of 16.53% and a negative net margin of 17.29%. The firm had revenue of $143 million for the quarter, compared to analysts’ expectations of $149.41 million. During the same quarter last year, the business earned ($0.16) earnings per share. The company’s revenue was down 51.9% compared to the same quarter last year.
A number of other equities analysts have also recently commented on the company. Citigroup Inc. boosted their price target on RPC from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, September 12th. GMP Securities raised RPC from a “reduce” rating to a “hold” rating in a report on Thursday, July 28th. Finally, Nomura reissued a “hold” rating and set a $14.00 price target on shares of RPC in a report on Thursday, September 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. RPC has an average rating of “Hold” and a consensus price target of $14.67.
Shares of RPC (NYSE:RES) traded down 0.06% during trading on Wednesday, reaching $17.80. The company’s stock had a trading volume of 1,177,800 shares. RPC has a 12 month low of $9.73 and a 12 month high of $18.00. The company’s 50 day moving average price is $15.69 and its 200 day moving average price is $14.93. The firm’s market cap is $3.87 billion.
Several large investors have recently made changes to their positions in RES. Viking Fund Management LLC acquired a new stake in shares of RPC during the second quarter valued at approximately $13,977,000. Acadian Asset Management LLC raised its stake in shares of RPC by 6,097.8% in the second quarter. Acadian Asset Management LLC now owns 30,555 shares of the company’s stock valued at $475,000 after buying an additional 30,062 shares during the last quarter. Independent Portfolio Consultants Inc. raised its stake in shares of RPC by 9.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 12,220 shares of the company’s stock valued at $190,000 after buying an additional 1,005 shares during the last quarter. Springbok Capital Management LLC acquired a new stake in shares of RPC during the first quarter valued at approximately $1,361,000. Finally, Anchor Bolt Capital LP acquired a new stake in shares of RPC during the first quarter valued at approximately $7,303,000. Institutional investors own 34.92% of the company’s stock.
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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