Brokerages Expect RPC, Inc. (RES) to Post $0.34 EPS

Wall Street brokerages expect RPC, Inc. (NYSE:RES) to announce $0.34 earnings per share for the current quarter, Zacks reports. Eight analysts have made estimates for RPC’s earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.36. RPC reported earnings of ($0.10) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 440%. The business is expected to announce its next quarterly earnings report on Wednesday, January 24th.

On average, 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 forecast that the firm will report earnings of $1.53 per share, with EPS estimates ranging from $1.39 to $1.75. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow RPC.

RPC (NYSE:RES) last released its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.03). The business had revenue of $471.00 million during the quarter, compared to analyst estimates of $474.41 million. RPC had a net margin of 6.03% and a return on equity of 10.31%. The firm’s revenue was up 167.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.18) EPS.

Several analysts have recently weighed in on RES shares. B. Riley reissued a “buy” rating on shares of RPC in a research note on Wednesday, November 1st. BMO Capital Markets increased their price target on shares of RPC from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Morgan Stanley cut shares of RPC from an “equal weight” rating to an “underweight” rating and set a $25.00 price target for the company. in a research note on Tuesday, November 14th. They noted that the move was a valuation call. Cowen and Company set a $24.00 price target on shares of RPC and gave the company a “hold” rating in a research note on Friday, October 6th. Finally, FBR & Co set a $27.00 price target on shares of RPC and gave the company a “buy” rating in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $24.23.

RPC (NYSE RES) traded down $0.43 during mid-day trading on Friday, reaching $22.87. 809,151 shares of the company’s stock were exchanged, compared to its average volume of 1,777,221. The firm has a market cap of $5,046.45, a P/E ratio of 59.74, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. RPC has a 12 month low of $16.63 and a 12 month high of $26.45.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 10th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.22%. This is a positive change from RPC’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, November 9th. RPC’s dividend payout ratio (DPR) is presently 73.69%.

In other news, Director Amy Rollins Kreisler acquired 5,000 shares of RPC stock in a transaction dated Friday, October 27th. The shares were acquired at an average cost of $23.21 per share, for a total transaction of $116,050.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $116,050. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 73.50% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its stake in RPC by 7.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock worth $132,000 after acquiring an additional 459 shares in the last quarter. Pacer Advisors Inc. raised its stake in RPC by 12.0% during the 2nd quarter. Pacer Advisors Inc. now owns 11,360 shares of the oil and gas company’s stock worth $230,000 after acquiring an additional 1,216 shares in the last quarter. Advisory Services Network LLC raised its stake in RPC by 15.9% during the 2nd quarter. Advisory Services Network LLC now owns 13,028 shares of the oil and gas company’s stock worth $263,000 after acquiring an additional 1,790 shares in the last quarter. Northern Trust Corp raised its stake in RPC by 0.5% during the 2nd quarter. Northern Trust Corp now owns 369,609 shares of the oil and gas company’s stock worth $7,470,000 after acquiring an additional 1,951 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in RPC by 12.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 21,424 shares of the oil and gas company’s stock worth $433,000 after acquiring an additional 2,372 shares in the last quarter. Hedge funds and other institutional investors own 36.51% 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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Earnings History and Estimates for RPC (NYSE:RES)

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