Brokerages Expect RPC, Inc. (RES) to Post $0.34 EPS
Equities research analysts predict that RPC, Inc. (NYSE:RES) will report earnings of $0.34 per share for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for RPC’s earnings, with the highest EPS estimate coming in at $0.36 and the lowest estimate coming in at $0.31. RPC reported earnings of ($0.10) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 440%. The business is expected to announce its next earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that RPC will report full-year earnings of $0.82 per share for the current year, with EPS estimates ranging from $0.79 to $0.85. For the next financial year, analysts expect that the business will report earnings of $1.53 per share, with EPS estimates ranging from $1.39 to $1.75. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover RPC.
RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, October 25th. The oil and gas company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). RPC had a return on equity of 10.31% and a net margin of 6.03%. The business had revenue of $471.00 million for the quarter, compared to analyst estimates of $474.41 million. During the same quarter last year, the firm earned ($0.18) earnings per share. The firm’s quarterly revenue was up 167.8% compared to the same quarter last year.
A number of research analysts recently commented on the company. Citigroup lowered RPC from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, October 26th. They noted that the move was a valuation call. Credit Suisse Group lowered RPC from an “outperform” rating to a “neutral” rating in a research note on Friday, October 13th. They noted that the move was a valuation call. Barclays assumed coverage on RPC in a research note on Tuesday, September 5th. They issued an “equal weight” rating and a $19.00 target price for the company. Morgan Stanley lowered RPC from an “equal weight” rating to an “underweight” rating and set a $25.00 target price for the company. in a research note on Tuesday, November 14th. They noted that the move was a valuation call. Finally, Jefferies Group set a $26.00 target price on RPC and gave the company a “buy” rating in a research note on Monday, August 28th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the stock. RPC currently has an average rating of “Hold” and an average target price of $24.23.
Shares of RPC (RES) traded up $0.26 during mid-day trading on Friday, hitting $25.13. The stock had a trading volume of 776,000 shares, compared to its average volume of 1,736,692. RPC has a one year low of $16.63 and a one year high of $26.45. The firm has a market capitalization of $5,440.00, a price-to-earnings ratio of 63.77, a PEG ratio of 1.69 and a beta of 1.14.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 10th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.11%. This is a boost from RPC’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, November 9th. RPC’s dividend payout ratio is 73.68%.
In related news, Director Amy Rollins Kreisler purchased 5,000 shares of the stock in a transaction on Friday, October 27th. The shares were purchased at an average cost of $23.21 per share, for a total transaction of $116,050.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $116,050. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 73.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in RES. Legal & General Group Plc grew its holdings in shares of RPC by 110.0% during the first quarter. Legal & General Group Plc now owns 24,330 shares of the oil and gas company’s stock worth $445,000 after purchasing an additional 12,747 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of RPC by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,526,110 shares of the oil and gas company’s stock worth $27,941,000 after purchasing an additional 8,416 shares during the last quarter. Morgan Stanley grew its holdings in shares of RPC by 13.0% during the first quarter. Morgan Stanley now owns 245,580 shares of the oil and gas company’s stock worth $4,496,000 after purchasing an additional 28,163 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of RPC by 11.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 305,950 shares of the oil and gas company’s stock worth $5,602,000 after purchasing an additional 31,251 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of RPC by 1.6% during the first quarter. State Street Corp now owns 1,293,210 shares of the oil and gas company’s stock worth $23,675,000 after purchasing an additional 20,578 shares during the last quarter. Institutional investors own 38.10% 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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