RPC, Inc. (RES) Expected to Announce Earnings of $0.11 Per Share

Analysts expect that RPC, Inc. (NYSE:RES) will announce earnings of $0.11 per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for RPC’s earnings. The lowest EPS estimate is $0.08 and the highest is $0.18. RPC reported earnings per share of $0.18 during the same quarter last year, which indicates a negative year over year growth rate of 38.9%. The company is expected to report its next quarterly earnings results on Wednesday, January 23rd.

According to Zacks, analysts expect that RPC will report full-year earnings of $0.84 per share for the current year, with EPS estimates ranging from $0.79 to $0.88. For the next fiscal year, analysts anticipate that the company will post earnings of $0.75 per share, with EPS estimates ranging from $0.53 to $0.95. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for RPC.

RPC (NYSE:RES) last released its earnings results on Wednesday, October 24th. The oil and gas company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The firm had revenue of $439.99 million for the quarter, compared to the consensus estimate of $456.54 million. RPC had a return on equity of 20.48% and a net margin of 12.40%. The company’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS.

A number of equities research analysts recently commented on RES shares. Credit Suisse Group set a $14.00 price objective on RPC and gave the company a “hold” rating in a report on Thursday, October 25th. Wolfe Research set a $14.00 price objective on RPC and gave the company a “sell” rating in a report on Thursday, October 25th. Cowen dropped their price objective on RPC from $15.00 to $12.00 and set a “market perform” rating for the company in a report on Friday, October 26th. Stifel Nicolaus started coverage on RPC in a report on Monday, September 10th. They issued a “hold” rating and a $15.00 price objective for the company. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of RPC in a report on Thursday, July 26th. Three analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $17.35.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in RPC by 3.6% in the second quarter. BlackRock Inc. now owns 3,071,238 shares of the oil and gas company’s stock valued at $44,748,000 after acquiring an additional 105,394 shares during the period. Gabelli Funds LLC grew its stake in RPC by 1.6% in 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 acquiring an additional 43,080 shares during the period. Gamco Investors INC. ET AL grew its stake in RPC by 3.0% in 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 acquiring an additional 72,237 shares during the period. Deprince Race & Zollo Inc. grew its stake in RPC by 17.5% in the third quarter. Deprince Race & Zollo Inc. now owns 1,938,156 shares of the oil and gas company’s stock valued at $30,003,000 after acquiring an additional 288,359 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in RPC by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,639,247 shares of the oil and gas company’s stock valued at $23,884,000 after acquiring an additional 133,189 shares during the period. 31.83% of the stock is owned by hedge funds and other institutional investors.

Shares of RES stock traded down $0.04 on Tuesday, reaching $14.80. 1,277,288 shares of the stock were exchanged, compared to its average volume of 1,884,606. The company has a market cap of $3.18 billion, a P/E ratio of 22.42, a PEG ratio of 0.97 and a beta of 0.70. RPC has a one year low of $12.96 and a one year high of $27.07. The company has a quick ratio of 2.75, a current ratio of 3.74 and a debt-to-equity ratio of 0.01.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders 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 yield of 2.70%. RPC’s payout ratio is 60.61%.

About RPC

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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Earnings History and Estimates for RPC (NYSE:RES)

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