$395.32 Million in Sales Expected for RPC, Inc. (RES) This Quarter

Wall Street brokerages forecast that RPC, Inc. (NYSE:RES) will report sales of $395.32 million for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for RPC’s earnings, with estimates ranging from $385.23 million to $418.00 million. RPC posted sales of $427.30 million in the same quarter last year, which would indicate a negative year over year growth rate of 7.5%. The firm is expected to issue its next quarterly earnings report on Wednesday, January 23rd.

According to Zacks, analysts expect that RPC will report full-year sales of $1.74 billion for the current year, with estimates ranging from $1.73 billion to $1.76 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.77 billion, with estimates ranging from $1.63 billion to $1.96 billion. Zacks’ sales averages are an average based on a survey of research firms that cover RPC.

RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, October 24th. The oil and gas company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.04). RPC had a net margin of 12.40% and a return on equity of 20.48%. The business had revenue of $439.99 million during the quarter, compared to analysts’ expectations of $456.54 million. During the same period in the prior year, the business earned $0.26 EPS. The business’s quarterly revenue was down 6.6% on a year-over-year basis.

RES has been the subject of several recent research reports. Zacks Investment Research cut shares of RPC from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. BMO Capital Markets lowered shares of RPC from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $19.00 to $16.00 in a report on Thursday, August 9th. SunTrust Banks lowered shares of RPC from a “buy” rating to a “hold” rating and reduced their price objective for the company from $25.00 to $16.00 in a report on Thursday, August 30th. Stifel Nicolaus initiated coverage on shares of RPC in a report on Monday, September 10th. They issued a “hold” rating and a $15.00 price objective on the stock. Finally, Citigroup reduced their price objective on shares of RPC from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, September 14th. Three investment analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the stock. RPC presently has a consensus rating of “Hold” and a consensus price target of $17.35.

A number of large investors have recently made changes to their positions in the stock. Jupiter Asset Management Ltd. raised its stake in RPC by 2.1% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 197,154 shares of the oil and gas company’s stock worth $3,066,000 after acquiring an additional 4,005 shares in the last quarter. NumerixS Investment Technologies Inc raised its stake in RPC by 101.1% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 10,861 shares of the oil and gas company’s stock worth $159,000 after acquiring an additional 5,461 shares in the last quarter. Alps Advisors Inc. raised its stake in RPC by 38.9% during the 3rd quarter. Alps Advisors Inc. now owns 31,332 shares of the oil and gas company’s stock worth $485,000 after acquiring an additional 8,777 shares in the last quarter. Cambiar Investors LLC raised its stake in RPC by 1.9% during the 3rd quarter. Cambiar Investors LLC now owns 499,200 shares of the oil and gas company’s stock worth $7,728,000 after acquiring an additional 9,526 shares in the last quarter. Finally, LPL Financial LLC acquired a new stake in RPC during the 3rd quarter worth $156,000. Hedge funds and other institutional investors own 32.06% of the company’s stock.

Shares of RES stock opened at $13.70 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.74 and a quick ratio of 3.01. RPC has a 52 week low of $12.86 and a 52 week high of $27.07. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 0.92 and a beta of 0.70.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, November 8th. This represents a $0.40 annualized dividend and a yield of 2.92%. RPC’s dividend payout ratio is currently 60.61%.

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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