RPC, Inc. (RES) Expected to Post Quarterly Sales of $365.83 Million

Brokerages expect RPC, Inc. (NYSE:RES) to announce $365.83 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for RPC’s earnings, with estimates ranging from $348.00 million to $376.60 million. RPC posted sales of $467.93 million during the same quarter last year, which would indicate a negative year over year growth rate of 21.8%. The firm is expected to report its next quarterly earnings report on Wednesday, July 24th.

According to Zacks, analysts expect that RPC will report full year sales of $1.49 billion for the current financial year, with estimates ranging from $1.38 billion to $1.57 billion. For the next financial year, analysts expect that the firm will post sales of $1.73 billion, with estimates ranging from $1.53 billion to $2.05 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow RPC.

RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.05). RPC had a net margin of 7.57% and a return on equity of 11.99%. The firm had revenue of $334.70 million for the quarter, compared to analyst estimates of $351.95 million. During the same period in the previous year, the business posted $0.24 earnings per share. The business’s revenue for the quarter was down 23.3% compared to the same quarter last year.

A number of brokerages have recently commented on RES. ValuEngine raised RPC from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. Susquehanna Bancshares set a $13.00 price target on RPC and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Morgan Stanley raised RPC from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $11.00 to $15.00 in a research note on Thursday, April 4th. Seaport Global Securities raised RPC from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, January 29th. Finally, Bank of America reissued an “underperform” rating and set a $9.50 price target (down from $12.00) on shares of RPC in a research note on Thursday, April 25th. Nine equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $12.38.

Shares of RES stock opened at $8.01 on Monday. RPC has a 12 month low of $8.39 and a 12 month high of $18.83. The stock has a market cap of $1.72 billion, a PE ratio of 9.77, a PEG ratio of 3.94 and a beta of 0.93. The company has a current ratio of 3.53, a quick ratio of 2.77 and a debt-to-equity ratio of 0.04.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.50%. RPC’s dividend payout ratio (DPR) is 24.39%.

Institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of RPC by 5.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,376,742 shares of the oil and gas company’s stock worth $13,588,000 after acquiring an additional 76,176 shares during the last quarter. First Trust Advisors LP raised its position in shares of RPC by 19.8% during the fourth quarter. First Trust Advisors LP now owns 1,123,657 shares of the oil and gas company’s stock worth $11,090,000 after acquiring an additional 185,570 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in RPC by 147.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,728,259 shares of the oil and gas company’s stock worth $17,059,000 after purchasing an additional 1,029,104 shares in the last quarter. Two Sigma Investments LP bought a new stake in RPC in the fourth quarter worth approximately $382,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in RPC in the first quarter worth approximately $172,000. Institutional investors own 31.32% of the company’s stock.

RPC Company Profile

RPC, Inc, through its subsidiaries, 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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Earnings History and Estimates for RPC (NYSE:RES)

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