Brokerages Expect RPC, Inc. (NYSE:RES) Will Announce Earnings of $0.05 Per Share

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Equities research analysts expect RPC, Inc. (NYSE:RES) to post earnings per share of $0.05 for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for RPC’s earnings. The highest EPS estimate is $0.07 and the lowest is $0.03. RPC posted earnings per share of $0.28 in the same quarter last year, which suggests a negative year-over-year growth rate of 82.1%. The company is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, July 24th.

According to Zacks, analysts expect that RPC will report full year earnings of $0.18 per share for the current fiscal year, with EPS estimates ranging from $0.03 to $0.33. For the next year, analysts anticipate that the company will post earnings of $0.42 per share, with EPS estimates ranging from $0.05 to $1.10. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover RPC.

RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The company had revenue of $334.70 million during the quarter, compared to analyst estimates of $351.95 million. RPC had a net margin of 7.57% and a return on equity of 11.99%. The business’s revenue for the quarter was down 23.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 EPS.

A number of analysts recently weighed in on RES shares. Bank of America raised shares of Air Products & Chemicals from an “underperform” rating to a “neutral” rating and raised their price target for the company from $170.00 to $215.00 in a report on Thursday, April 25th. Morgan Stanley set a $207.00 price target on shares of Alibaba Group and gave the company a “buy” rating in a report on Friday. AltaCorp Capital reissued a “sector perform” rating on shares of STEP Energy Services in a report on Thursday, June 20th. Citigroup reaffirmed a “buy” rating and set a $25.00 target price on shares of Propetro in a report on Tuesday, July 2nd. Finally, ValuEngine lowered shares of Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Nine equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $12.28.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. acquired a new position in shares of RPC in the 1st quarter valued at $25,000. Amalgamated Bank acquired a new position in shares of RPC in the 4th quarter valued at $114,000. LPL Financial LLC grew its holdings in shares of RPC by 26.6% in the 4th quarter. LPL Financial LLC now owns 12,756 shares of the oil and gas company’s stock valued at $126,000 after buying an additional 2,680 shares during the period. Raymond James & Associates grew its holdings in shares of RPC by 31.0% in the 4th quarter. Raymond James & Associates now owns 13,130 shares of the oil and gas company’s stock valued at $130,000 after buying an additional 3,110 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of RPC in the 1st quarter valued at $154,000. 31.94% of the stock is owned by hedge funds and other institutional investors.

Shares of RPC stock traded down $0.35 during midday trading on Wednesday, reaching $6.29. The company had a trading volume of 1,324,885 shares, compared to its average volume of 1,968,336. The company has a quick ratio of 2.77, a current ratio of 3.53 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.43 billion, a P/E ratio of 7.66, a price-to-earnings-growth ratio of 6.34 and a beta of 1.06. The company’s fifty day moving average is $7.23. RPC has a 1-year low of $6.52 and a 1-year high of $17.24.

RPC Company Profile

RPC, Inc, through its subsidiaries, 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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