Wall Street analysts expect that RPC, Inc. (NYSE:RES) will report sales of $345.56 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for RPC’s earnings, with the highest sales estimate coming in at $365.00 million and the lowest estimate coming in at $317.54 million. RPC reported sales of $439.99 million in the same quarter last year, which suggests a negative year over year growth rate of 21.5%. The business is scheduled to report its next quarterly earnings results before the market opens on Wednesday, October 23rd.
According to Zacks, analysts expect that RPC will report full year sales of $1.36 billion for the current year, with estimates ranging from $1.30 billion to $1.42 billion. For the next financial year, analysts expect that the business will post sales of $1.44 billion, with estimates ranging from $1.18 billion to $1.87 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow RPC.
RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). RPC had a return on equity of 6.37% and a net margin of 4.55%. The business had revenue of $358.50 million for the quarter, compared to analyst estimates of $362.40 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The firm’s quarterly revenue was down 23.4% compared to the same quarter last year.
Several equities research analysts have recently commented on RES shares. ValuEngine upgraded shares of RPC from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Barclays lowered their price target on shares of RPC from $5.50 to $5.00 and set an “underweight” rating for the company in a research report on Monday, September 30th. Wells Fargo & Co lowered their price target on shares of RPC from $5.50 to $4.50 and set an “underperform” rating for the company in a research report on Thursday, September 12th. Morgan Stanley lowered their price target on shares of RPC from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Finally, AltaCorp Capital reiterated an “underperform” rating on shares of RPC in a research report on Thursday, June 20th. Eight equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $10.06.
Hedge funds and other institutional investors have recently modified their holdings of the stock. NumerixS Investment Technologies Inc bought a new position in RPC in the first quarter valued at approximately $154,000. Federated Investors Inc. PA lifted its stake in RPC by 10.0% in the first quarter. Federated Investors Inc. PA now owns 443,714 shares of the oil and gas company’s stock valued at $5,063,000 after buying an additional 40,413 shares in the last quarter. Marshall Wace North America L.P. bought a new position in RPC in the first quarter valued at approximately $25,000. First Trust Advisors LP lifted its stake in RPC by 3.1% in the first quarter. First Trust Advisors LP now owns 1,158,663 shares of the oil and gas company’s stock valued at $13,220,000 after buying an additional 35,006 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in RPC in the second quarter valued at approximately $342,000. Hedge funds and other institutional investors own 33.79% of the company’s stock.
Shares of NYSE:RES traded down $0.15 during trading on Friday, hitting $4.80. 130,748 shares of the company’s stock were exchanged, compared to its average volume of 2,404,306. RPC has a 1-year low of $4.65 and a 1-year high of $15.90. The firm has a 50-day moving average price of $5.41 and a two-hundred day moving average price of $7.67. The company has a current ratio of 3.13, a quick ratio of 2.45 and a debt-to-equity ratio of 0.03. The firm has a market cap of $990.29 million, a P/E ratio of 5.79 and a beta of 1.09.
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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