RPC, Inc. (RES) Expected to Announce Quarterly Sales of $457.98 Million

Equities analysts predict that RPC, Inc. (NYSE:RES) will announce sales of $457.98 million for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for RPC’s earnings, with the lowest sales estimate coming in at $441.20 million and the highest estimate coming in at $480.00 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 2.8%. The company is expected to announce its next quarterly earnings results before the market opens on Wednesday, October 24th.

According to Zacks, analysts expect that RPC will report full year sales of $1.80 billion for the current financial year, with estimates ranging from $1.75 billion to $1.89 billion. For the next financial year, analysts expect that the company will post sales of $1.82 billion, with estimates ranging from $1.66 billion to $2.08 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover RPC.

RPC (NYSE:RES) last posted its quarterly earnings data on Wednesday, July 25th. The oil and gas company reported $0.28 earnings per share for the quarter, missing the 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 firm had revenue of $467.93 million for the quarter, compared to analysts’ expectations of $488.40 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The company’s revenue for the quarter was up 17.3% on a year-over-year basis.

Several research firms have weighed in on RES. Seaport Global Securities reiterated a “neutral” rating on shares of RPC in a research report on Thursday, July 26th. Zacks Investment Research upgraded shares of RPC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Cowen reiterated a “hold” rating and set a $15.00 price objective on shares of RPC in a research report on Thursday, July 26th. B. Riley set a $16.00 price objective on shares of RPC and gave the stock a “hold” rating in a research report on Thursday, July 26th. Finally, ValuEngine upgraded shares of RPC from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $19.13.

NYSE RES traded down $0.15 on Monday, hitting $15.30. 2,114,242 shares of the stock were exchanged, compared to its average volume of 1,827,289. RPC has a 52-week low of $12.96 and a 52-week high of $27.07. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 0.92 and a beta of 0.84.

Several institutional investors have recently bought and sold shares of the company. Investec Asset Management LTD boosted its holdings in RPC by 19.1% in the second quarter. Investec Asset Management LTD now owns 351,228 shares of the oil and gas company’s stock worth $5,117,000 after purchasing an additional 56,238 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in RPC in the second quarter worth $169,000. Mackay Shields LLC bought a new stake in RPC in the second quarter worth $1,827,000. Putnam Investments LLC bought a new stake in RPC in the second quarter worth $605,000. Finally, Point72 Hong Kong Ltd boosted its holdings in RPC by 682.3% in the second quarter. Point72 Hong Kong Ltd now owns 13,667 shares of the oil and gas company’s stock worth $199,000 after purchasing an additional 11,920 shares in the last quarter. Institutional investors and hedge funds own 31.74% of the company’s stock.

RPC Company Profile

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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