Analysts forecast that RPC, Inc. (NYSE:RES) will announce $0.29 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for RPC’s earnings, with the lowest EPS estimate coming in at $0.25 and the highest estimate coming in at $0.32. RPC posted earnings per share of $0.01 in the same quarter last year, which would indicate a positive year-over-year growth rate of 2,800%. The firm is expected to announce its next earnings results before the market opens on Wednesday, April 25th.
According to Zacks, analysts expect that RPC will report full year earnings of $1.64 per share for the current fiscal year, with EPS estimates ranging from $1.30 to $1.90. For the next fiscal year, analysts anticipate that the business will report earnings of $1.94 per share, with EPS estimates ranging from $1.60 to $2.50. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow RPC.
RPC (NYSE:RES) last posted its quarterly earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.16). RPC had a return on equity of 16.90% and a net margin of 10.19%. The business had revenue of $427.30 million for the quarter, compared to the consensus estimate of $515.04 million. During the same quarter in the previous year, the business posted ($0.10) EPS. The company’s revenue for the quarter was up 93.3% on a year-over-year basis.
A number of research firms recently commented on RES. B. Riley set a $27.00 price target on RPC and gave the stock a “hold” rating in a report on Wednesday, January 24th. Jefferies Group restated a “hold” rating and set a $19.00 price objective on shares of RPC in a report on Wednesday, April 4th. Credit Suisse Group reduced their price objective on RPC from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. BMO Capital Markets reduced their price objective on RPC from $29.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, January 25th. Finally, Zacks Investment Research upgraded RPC from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective for the company in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $23.50.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CENTRAL TRUST Co acquired a new stake in shares of RPC in the fourth quarter valued at approximately $147,000. State of Alaska Department of Revenue acquired a new stake in shares of RPC in the fourth quarter valued at approximately $147,000. YorkBridge Wealth Partners LLC raised its position in shares of RPC by 791.2% in the fourth quarter. YorkBridge Wealth Partners LLC now owns 5,855 shares of the oil and gas company’s stock valued at $115,000 after buying an additional 5,198 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of RPC by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock valued at $132,000 after buying an additional 459 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in shares of RPC by 71.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,534 shares of the oil and gas company’s stock valued at $167,000 after buying an additional 2,714 shares in the last quarter. Institutional investors own 34.55% of the company’s stock.
RPC stock opened at $18.45 on Tuesday. RPC has a 52 week low of $16.70 and a 52 week high of $27.07. The stock has a market cap of $3,939.95, a P/E ratio of 27.95, a price-to-earnings-growth ratio of 0.62 and a beta of 0.83.
RPC announced that its board has authorized a share repurchase plan on Monday, February 12th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the oil and gas company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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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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