Wall Street analysts forecast that RPC, Inc. (NYSE:RES) will post $395.32 million in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for RPC’s earnings. The lowest sales estimate is $385.23 million and the highest is $418.00 million. RPC reported sales of $427.30 million during the same quarter last year, which indicates a negative year over year growth rate of 7.5%. The company is expected to announce its next quarterly earnings report on Wednesday, January 23rd.
According to Zacks, analysts expect that RPC will report full-year sales of $1.74 billion for the current fiscal year, with estimates ranging from $1.73 billion to $1.76 billion. For the next year, analysts forecast that the firm will post sales of $1.77 billion, with estimates ranging from $1.63 billion to $1.96 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow RPC.
RPC (NYSE:RES) last posted its earnings results on Wednesday, October 24th. The oil and gas company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). RPC had a return on equity of 20.48% and a net margin of 12.40%. The firm had revenue of $439.99 million for the quarter, compared to analyst estimates of $456.54 million. During the same period in the previous year, the firm posted $0.26 earnings per share. The company’s revenue for the quarter was down 6.6% on a year-over-year basis.
A number of research analysts have recently commented on the stock. Credit Suisse Group set a $14.00 target price on shares of RPC and gave the stock a “hold” rating in a research report on Thursday, October 25th. Wolfe Research set a $14.00 target price on shares of RPC and gave the stock a “sell” rating in a research report on Thursday, October 25th. Cowen reduced their target price 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. Stifel Nicolaus started coverage on shares of RPC in a research report on Monday, September 10th. They set a “hold” rating and a $15.00 target price on the stock. Finally, Seaport Global Securities restated a “neutral” rating on shares of RPC in a research note on Thursday, July 26th. Three research analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.35.
Several large investors have recently modified their holdings of the stock. Bigelow Investment Advisors LLC bought a new stake in shares of RPC in the third quarter worth $311,000. Virginia Retirement Systems ET AL bought a new stake in RPC during the third quarter valued at $517,000. Gabelli Funds LLC increased its stake in RPC by 1.6% during the third quarter. Gabelli Funds LLC now owns 2,691,185 shares of the oil and gas company’s stock valued at $41,660,000 after purchasing an additional 43,080 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in RPC by 3.0% during the third quarter. Gamco Investors INC. ET AL now owns 2,518,979 shares of the oil and gas company’s stock valued at $38,994,000 after purchasing an additional 72,237 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in RPC during the third quarter valued at $262,000. Institutional investors and hedge funds own 32.31% of the company’s stock.
Shares of NYSE RES traded down $0.40 during trading on Thursday, reaching $14.60. 1,278,632 shares of the stock were exchanged, compared to its average volume of 1,826,440. RPC has a twelve month low of $12.96 and a twelve month high of $27.07. 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 cap of $3.18 billion, a P/E ratio of 22.12, a PEG ratio of 0.97 and a beta of 0.70.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be paid a $0.10 dividend. The ex-dividend date is Thursday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.74%. RPC’s dividend payout ratio (DPR) is presently 60.61%.
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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