RPC, Inc. (NYSE:RES) Expected to Post Earnings of $0.10 Per Share

Equities analysts expect RPC, Inc. (NYSE:RESGet Rating) to post $0.10 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for RPC’s earnings, with estimates ranging from $0.09 to $0.11. The company is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that RPC will report full year earnings of $0.44 per share for the current financial year, with EPS estimates ranging from $0.38 to $0.47. For the next year, analysts anticipate that the firm will report earnings of $0.67 per share, with EPS estimates ranging from $0.60 to $0.72. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for RPC.

RPC (NYSE:RESGet Rating) last posted its earnings results on Wednesday, April 27th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $284.60 million during the quarter, compared to analyst estimates of $286.68 million. RPC had a return on equity of 5.00% and a net margin of 3.31%. The company’s revenue for the quarter was up 55.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) earnings per share.

A number of analysts recently issued reports on RES shares. Zacks Investment Research cut RPC from a “strong-buy” rating to a “hold” rating and set a $11.00 price objective for the company. in a research report on Tuesday, March 29th. Citigroup boosted their price target on RPC to $10.00 and gave the stock a “na” rating in a research report on Tuesday, May 17th. StockNews.com began coverage on RPC in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Johnson Rice raised RPC from a “hold” rating to an “accumulate” rating and set a $13.00 price target for the company in a research report on Wednesday, April 27th. Finally, Atb Cap Markets reaffirmed an “underperform” rating on shares of RPC in a research report on Sunday, April 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.33.

Shares of RES stock traded up $0.38 during mid-day trading on Wednesday, hitting $9.74. 15,013 shares of the stock traded hands, compared to its average volume of 1,444,543. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 65.20 and a beta of 1.51. The company’s 50-day simple moving average is $10.38 and its 200-day simple moving average is $7.82. RPC has a twelve month low of $3.33 and a twelve month high of $12.91.

In other news, Director Gary W. Rollins sold 500,000 shares of the company’s stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $9.86, for a total value of $4,930,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Rollins Holding Company, Inc. sold 365,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $9.66, for a total value of $3,525,900.00. The disclosure for this sale can be found here. Insiders have sold 3,214,393 shares of company stock worth $30,506,111 over the last 90 days. Corporate insiders own 65.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of RPC by 2.6% in the 1st quarter. BlackRock Inc. now owns 11,572,911 shares of the oil and gas company’s stock worth $123,482,000 after acquiring an additional 294,681 shares in the last quarter. Van ECK Associates Corp lifted its holdings in RPC by 10.3% during the 1st quarter. Van ECK Associates Corp now owns 9,633,501 shares of the oil and gas company’s stock worth $102,789,000 after buying an additional 895,959 shares in the last quarter. Vanguard Group Inc. lifted its holdings in RPC by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 8,399,125 shares of the oil and gas company’s stock worth $89,619,000 after buying an additional 255,284 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of RPC by 10.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,933,835 shares of the oil and gas company’s stock valued at $52,645,000 after purchasing an additional 449,010 shares during the period. Finally, State Street Corp lifted its stake in shares of RPC by 29.1% in the 1st quarter. State Street Corp now owns 3,306,536 shares of the oil and gas company’s stock valued at $35,281,000 after purchasing an additional 744,744 shares during the period. 27.15% of the stock is currently owned by institutional investors and hedge funds.

RPC Company Profile (Get Rating)

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 segment offers pressure pumping, fracturing, acidizing, cementing, 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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