RPC, Inc. (RES) Expected to Post Earnings of $0.29 Per Share
Analysts expect RPC, Inc. (NYSE:RES) to announce earnings of $0.29 per share for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for RPC’s earnings. The lowest EPS estimate is $0.26 and the highest is $0.35. RPC reported earnings per share of ($0.18) during the same quarter last year, which would suggest a positive year over year growth rate of 261.1%. The business is scheduled to issue its next earnings results on Wednesday, October 25th.
On average, analysts expect that RPC will report full-year earnings of $0.85 per share for the current fiscal year, with EPS estimates ranging from $0.74 to $1.20. For the next financial year, analysts anticipate that the company will report earnings of $1.39 per share, with EPS estimates ranging from $1.00 to $1.69. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for RPC.
RPC (NYSE:RES) last posted its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. The company had revenue of $399.00 million during the quarter, compared to the consensus estimate of $415.65 million. During the same period in the previous year, the firm posted ($0.23) EPS. The firm’s revenue was up 179.0% compared to the same quarter last year.
A number of brokerages have recently issued reports on RES. Jefferies Group LLC set a $26.00 price objective on shares of RPC and gave the stock a “buy” rating in a research note on Saturday, June 17th. Cowen and Company reissued a “hold” rating and issued a $24.00 price objective on shares of RPC in a research note on Friday, September 1st. Piper Jaffray Companies restated a “neutral” rating and set a $20.50 target price (up previously from $18.75) on shares of RPC in a research report on Wednesday, July 12th. Barclays PLC assumed coverage on shares of RPC in a research report on Tuesday, September 5th. They set an “equal weight” rating and a $19.00 target price for the company. Finally, Seaport Global Securities restated a “neutral” rating on shares of RPC in a research report on Wednesday, July 26th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $22.69.
RPC (NYSE RES) traded up 1.41% during mid-day trading on Wednesday, hitting $23.74. 1,546,064 shares of the stock were exchanged. The company has a 50-day moving average of $20.15 and a 200-day moving average of $19.42. The stock’s market capitalization is $5.16 billion. RPC has a 52 week low of $15.01 and a 52 week high of $23.77.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Thursday, August 10th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.24 annualized dividend and a yield of 1.01%. This is a positive change from RPC’s previous quarterly dividend of $0.05. RPC’s dividend payout ratio (DPR) is -183.30%.
A number of hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. lifted its position in RPC by 58.4% during the second quarter. Alliancebernstein L.P. now owns 9,040,717 shares of the oil and gas company’s stock valued at $182,713,000 after purchasing an additional 3,333,619 shares during the last quarter. Vanguard Group Inc. lifted its position in RPC by 20.4% during the second quarter. Vanguard Group Inc. now owns 6,076,306 shares of the oil and gas company’s stock valued at $122,802,000 after purchasing an additional 1,028,001 shares during the last quarter. Bank of New York Mellon Corp lifted its position in RPC by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 2,167,567 shares of the oil and gas company’s stock valued at $43,807,000 after purchasing an additional 16,785 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new position in RPC during the first quarter valued at $28,788,000. Finally, Marshall Wace North America L.P. bought a new position in RPC during the first quarter valued at $28,788,000. Institutional investors and hedge funds own 38.17% 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 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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