Zacks: Analysts Expect RPC, Inc. (RES) Will Announce Quarterly Sales of $482.44 Million

Wall Street analysts expect RPC, Inc. (NYSE:RES) to post sales of $482.44 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for RPC’s earnings, with the lowest sales estimate coming in at $455.40 million and the highest estimate coming in at $568.70 million. RPC reported sales of $298.12 million during the same quarter last year, which indicates a positive year over year growth rate of 61.8%. The firm is scheduled to announce its next earnings results on Wednesday, April 25th.

On average, analysts expect that RPC will report full year sales of $482.44 million for the current year, with estimates ranging from $2.05 billion to $2.52 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.52 billion per share, with estimates ranging from $2.30 billion to $2.84 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow RPC.

RPC (NYSE:RES) last released its earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.16). The firm had revenue of $427.30 million during the quarter, compared to analysts’ expectations of $515.04 million. RPC had a net margin of 10.19% and a return on equity of 17.23%. The company’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) EPS.

A number of research analysts have recently commented on the company. B. Riley restated a “buy” rating on shares of RPC in a research note on Wednesday, November 1st. Jefferies Group set a $25.00 target price on RPC and gave the company a “hold” rating in a research note on Thursday, October 26th. TheStreet upgraded RPC from a “c+” rating to a “b” rating in a research note on Wednesday, October 25th. Zacks Investment Research cut RPC from a “buy” rating to a “hold” rating in a research note on Saturday, October 28th. Finally, BMO Capital Markets lowered their target price on RPC from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $24.75.

RPC (NYSE RES) opened at $17.68 on Friday. The company has a market capitalization of $3,650.00, a P/E ratio of 26.79, a PEG ratio of 0.63 and a beta of 0.73. RPC has a one year low of $16.63 and a one year high of $27.07.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be issued a $0.10 dividend. This is a positive change from RPC’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.26%. RPC’s dividend payout ratio (DPR) is presently 60.61%.

Institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings in shares of RPC by 7.6% in 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 purchasing an additional 459 shares in the last quarter. Zions Bancorporation bought a new stake in shares of RPC in the 3rd quarter worth $137,000. CENTRAL TRUST Co bought a new stake in shares of RPC in the 4th quarter worth $147,000. State of Alaska Department of Revenue bought a new stake in shares of RPC in the 4th quarter worth $147,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of RPC by 52.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 8,105 shares of the oil and gas company’s stock worth $201,000 after purchasing an additional 2,800 shares in the last quarter. 37.74% of the stock is owned by institutional investors and hedge funds.

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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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