Wall Street analysts predict that RPC, Inc. (NYSE:RES) will announce sales of $389.50 million for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for RPC’s earnings. The lowest sales estimate is $364.17 million and the highest is $406.50 million. RPC reported sales of $427.30 million during the same quarter last year, which would suggest a negative year over year growth rate of 8.8%. The business is scheduled to issue its next earnings report before the market opens on Wednesday, January 23rd.
According to Zacks, analysts expect that RPC will report full year sales of $1.75 billion for the current financial year, with estimates ranging from $1.71 billion to $1.83 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.72 billion, with estimates ranging from $1.38 billion to $1.96 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover RPC.
RPC (NYSE:RES) last announced its earnings results on Wednesday, October 24th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.04). The business had revenue of $439.99 million for the quarter, compared to analysts’ expectations of $456.54 million. RPC had a net margin of 12.40% and a return on equity of 20.48%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share.
RES has been the topic of several recent research reports. Zacks Investment Research cut shares of RPC from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Bank of America reduced their price objective on shares of RPC from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, October 25th. Jefferies Financial Group lowered shares of RPC from a “hold” rating to a “sell” rating and set a $9.00 price objective on the stock. in a research report on Thursday, December 13th. Cowen reduced their price objective on shares of RPC from $15.00 to $12.00 and set a “market perform” rating on the stock in a research report on Friday, October 26th. Finally, Citigroup lowered shares of RPC from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $11.00 to $8.00 in a research report on Wednesday. Eight equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.60.
A number of hedge funds have recently modified their holdings of RES. Schwab Charles Investment Management Inc. grew its stake in RPC by 4.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 499,577 shares of the oil and gas company’s stock worth $7,279,000 after acquiring an additional 20,916 shares in the last quarter. BlackRock Inc. grew its stake in RPC by 3.6% in the 2nd quarter. BlackRock Inc. now owns 3,071,238 shares of the oil and gas company’s stock worth $44,748,000 after acquiring an additional 105,394 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in RPC by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,639,247 shares of the oil and gas company’s stock worth $23,884,000 after acquiring an additional 133,189 shares in the last quarter. FMR LLC grew its stake in RPC by 1,637.7% in the 2nd quarter. FMR LLC now owns 1,127,761 shares of the oil and gas company’s stock worth $16,431,000 after acquiring an additional 1,062,861 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its stake in shares of RPC by 991.6% during the second quarter. Federated Investors Inc. PA now owns 364,076 shares of the oil and gas company’s stock valued at $5,305,000 after purchasing an additional 330,724 shares in the last quarter. Institutional investors and hedge funds own 32.97% of the company’s stock.
Shares of NYSE RES traded down $0.12 during mid-day trading on Wednesday, hitting $11.00. 2,330,900 shares of the company’s stock traded hands, compared to its average volume of 2,067,925. The company has a current ratio of 3.74, a quick ratio of 3.01 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 16.67, a P/E/G ratio of 1.20 and a beta of 0.99. RPC has a 1 year low of $9.35 and a 1 year high of $25.75.
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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