Equities analysts predict that RPC, Inc. (NYSE:RES) will post sales of $482.44 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for RPC’s earnings. The highest sales estimate is $568.70 million and the lowest is $455.40 million. RPC posted sales of $298.12 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 61.8%. The firm is expected to issue its next earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that RPC will report full-year sales of $482.44 million for the current financial year, with estimates ranging from $2.05 billion to $2.52 billion. For the next year, analysts forecast that the firm will report sales of $2.52 billion per share, with estimates ranging from $2.30 billion to $2.84 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for RPC.
RPC (NYSE:RES) last issued its earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.16). The company had revenue of $427.30 million during the quarter, compared to analysts’ expectations of $515.04 million. The firm’s revenue was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.10) EPS.
RES has been the topic of a number of recent research reports. Citigroup lowered RPC from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, October 26th. They noted that the move was a valuation call. Morgan Stanley lowered RPC from an “equal weight” rating to an “underweight” rating and set a $25.00 target price on the stock. in a research report on Tuesday, November 14th. They noted that the move was a valuation call. B. Riley lowered RPC from a “buy” rating to a “neutral” rating and set a $27.00 target price on the stock. in a research report on Friday, December 22nd. BMO Capital Markets upped their target price on RPC from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. Finally, Credit Suisse Group dropped their target price on RPC from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $24.75.
A number of institutional investors have recently added to or reduced their stakes in RES. YorkBridge Wealth Partners LLC lifted its position in shares of RPC by 791.2% during the 4th quarter. YorkBridge Wealth Partners LLC now owns 5,855 shares of the oil and gas company’s stock valued at $115,000 after buying an additional 5,198 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of RPC by 7.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock valued at $132,000 after buying an additional 459 shares in the last quarter. Zions Bancorporation purchased a new position in shares of RPC during the 3rd quarter valued at approximately $137,000. State of Alaska Department of Revenue purchased a new position in shares of RPC during the 4th quarter valued at approximately $147,000. Finally, CENTRAL TRUST Co purchased a new position in shares of RPC during the 4th quarter valued at approximately $147,000. Institutional investors and hedge funds own 37.43% of the company’s stock.
Shares of RPC (NYSE RES) traded down $0.36 during midday trading on Friday, reaching $18.44. The company had a trading volume of 1,510,000 shares, compared to its average volume of 2,640,000. The stock has a market capitalization of $3,990.00, a price-to-earnings ratio of 27.94, a P/E/G ratio of 0.62 and a beta of 0.73. RPC has a 52-week low of $16.63 and a 52-week high of $27.07.
RPC announced that its board has approved a stock buyback program on Monday, February 12th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, February 8th. This is a positive change from RPC’s previous quarterly dividend of $0.07. RPC’s dividend payout ratio is currently 60.61%.
RPC Company Profile
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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