Analysts predict that RPC, Inc. (NYSE:RES) will post $0.30 earnings per share for the current quarter, according to Zacks. Six analysts have provided estimates for RPC’s earnings, with the lowest EPS estimate coming in at $0.26 and the highest estimate coming in at $0.36. RPC posted earnings per share of $0.01 during the same quarter last year, which indicates a positive year-over-year growth rate of 2,900%. The firm is expected to announce its next earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that RPC will report full year earnings of $1.64 per share for the current financial year, with EPS estimates ranging from $1.45 to $1.90. For the next fiscal year, analysts expect that the firm will report earnings of $1.93 per share, with EPS estimates ranging from $1.67 to $2.50. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover RPC.
RPC (NYSE:RES) last posted its quarterly earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.16). The company had revenue of $427.30 million during the quarter, compared to the consensus estimate of $515.04 million. RPC had a net margin of 10.19% and a return on equity of 17.23%. The firm’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.10) earnings per share.
RES has been the subject of a number of analyst reports. Jefferies Group set a $25.00 price target on RPC and gave the company a “hold” rating in a research note on Thursday, October 26th. Morgan Stanley downgraded RPC from an “equal weight” rating to an “underweight” rating and set a $25.00 price target for the company. in a research note on Tuesday, November 14th. They noted that the move was a valuation call. B. Riley downgraded RPC from a “buy” rating to a “hold” rating and set a $27.00 price target for the company. in a research note on Thursday, December 28th. Stephens started coverage on RPC in a research note on Tuesday, January 9th. They issued an “equal weight” rating and a $28.00 price target for the company. Finally, Raymond James Financial downgraded RPC from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. RPC currently has a consensus rating of “Hold” and a consensus target price of $24.75.
RPC (RES) opened at $17.68 on Thursday. The firm has a market capitalization of $3,829.24, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 0.60 and a beta of 0.73. RPC has a one year low of $16.63 and a one year high of $27.07.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 9th will be paid a dividend of $0.10 per share. This is an increase from RPC’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Thursday, February 8th. RPC’s payout ratio is currently 53.33%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new stake in RPC in the 4th quarter valued at $559,000. Virtu Financial LLC bought a new stake in RPC in the 4th quarter valued at $512,000. Tower Research Capital LLC TRC bought a new stake in RPC in the 4th quarter valued at $335,000. BlackRock Inc. boosted its stake in RPC by 3.8% in the 4th quarter. BlackRock Inc. now owns 3,022,697 shares of the oil and gas company’s stock valued at $77,170,000 after purchasing an additional 111,534 shares during the period. Finally, Eagle Boston Investment Management Inc. boosted its stake in RPC by 6.7% in the 4th quarter. Eagle Boston Investment Management Inc. now owns 334,027 shares of the oil and gas company’s stock valued at $8,527,000 after purchasing an additional 21,000 shares during the period. Institutional investors own 37.74% of the company’s stock.
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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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