Brokerages expect RPC, Inc. (NYSE:RES) to report sales of $468.78 million for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for RPC’s earnings. The lowest sales estimate is $441.90 million and the highest is $541.40 million. RPC posted sales of $471.00 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.5%. The business is scheduled to issue its next earnings report on Wednesday, October 24th.

According to Zacks, analysts expect that RPC will report full-year sales of $1.82 billion for the current financial year, with estimates ranging from $1.75 billion to $2.00 billion. For the next year, analysts anticipate that the firm will report sales of $1.89 billion per share, with estimates ranging from $1.70 billion to $2.29 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for RPC.

RPC (NYSE:RES) last posted its quarterly earnings data on Wednesday, July 25th. The oil and gas company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). RPC had a return on equity of 23.23% and a net margin of 12.60%. The company had revenue of $467.93 million for the quarter, compared to the consensus estimate of $488.40 million. During the same quarter last year, the business earned $0.20 EPS. RPC’s revenue was up 17.3% on a year-over-year basis.

RES has been the topic of a number of recent research reports. Tudor Pickering lowered RPC from a “buy” rating to a “hold” rating in a research note on Thursday, April 26th. Cowen restated a “hold” rating and set a $15.00 price objective on shares of RPC in a research note on Thursday, July 26th. Morgan Stanley lowered their price objective on RPC from $23.00 to $21.00 and set a “sell” rating on the stock in a research note on Monday, April 30th. Zacks Investment Research lowered RPC from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 27th. Finally, BMO Capital Markets lowered RPC from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $19.00 to $16.00 in a research note on Thursday, August 9th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. RPC has a consensus rating of “Hold” and an average price target of $21.13.

RPC stock opened at $14.71 on Friday. RPC has a one year low of $12.98 and a one year high of $27.07. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 22.29, a P/E/G ratio of 0.84 and a beta of 0.90.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 10th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Thursday, August 9th. RPC’s dividend payout ratio is presently 60.61%.

Several hedge funds have recently modified their holdings of RES. FMR LLC boosted its holdings in shares of RPC by 1,637.7% in the 2nd quarter. FMR LLC now owns 1,127,761 shares of the oil and gas company’s stock valued at $16,431,000 after purchasing an additional 1,062,861 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of RPC by 375.0% in the 2nd quarter. Royce & Associates LP now owns 1,170,891 shares of the oil and gas company’s stock valued at $17,060,000 after purchasing an additional 924,379 shares in the last quarter. Carillon Tower Advisers Inc. acquired a new stake in shares of RPC in the 1st quarter valued at $12,191,000. Russell Investments Group Ltd. boosted its holdings in shares of RPC by 3,444.3% in the 1st quarter. Russell Investments Group Ltd. now owns 571,513 shares of the oil and gas company’s stock valued at $10,228,000 after purchasing an additional 555,388 shares in the last quarter. Finally, Scout Investments Inc. boosted its holdings in shares of RPC by 83.5% in the 1st quarter. Scout Investments Inc. now owns 1,107,611 shares of the oil and gas company’s stock valued at $19,970,000 after purchasing an additional 504,118 shares in the last quarter. 33.98% of the stock is currently owned by hedge funds and other institutional investors.

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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