RPC, Inc. (NYSE:RES) Expected to Post Earnings of $0.07 Per Share

Wall Street brokerages forecast that RPC, Inc. (NYSE:RESGet Rating) will post earnings per share of $0.07 for the current quarter, according to Zacks. Three analysts have made estimates for RPC’s earnings. The highest EPS estimate is $0.08 and the lowest is $0.07. RPC posted earnings per share of ($0.05) in the same quarter last year, which suggests a positive year-over-year growth rate of 240%. The company is scheduled to announce its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that RPC will report full-year earnings of $0.42 per share for the current fiscal year, with EPS estimates ranging from $0.35 to $0.53. For the next financial year, analysts expect that the firm will report earnings of $0.61 per share, with EPS estimates ranging from $0.52 to $0.77. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover RPC.

RPC (NYSE:RESGet Rating) last posted its quarterly earnings results on Wednesday, January 26th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.03. RPC had a net margin of 0.83% and a return on equity of 1.15%. The company had revenue of $268.30 million for the quarter, compared to the consensus estimate of $240.32 million. During the same period last year, the firm posted ($0.03) EPS. The company’s revenue for the quarter was up 80.6% on a year-over-year basis.

RES has been the topic of several recent research reports. TheStreet upgraded shares of RPC from a “d+” rating to a “c” rating in a research report on Wednesday, January 26th. Zacks Investment Research downgraded shares of RPC from a “strong-buy” rating to a “hold” rating and set a $11.00 price objective on the stock. in a research report on Tuesday, March 29th. StockNews.com initiated coverage on shares of RPC in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Atb Cap Markets reiterated 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 and three have issued a hold rating to the company. According to data from MarketBeat, RPC presently has a consensus rating of “Hold” and a consensus target price of $11.00.

RPC stock opened at $10.99 on Wednesday. The firm’s 50-day moving average is $10.28 and its 200-day moving average is $7.03. RPC has a 1 year low of $3.33 and a 1 year high of $12.91. The company has a market cap of $2.38 billion, a P/E ratio of 366.46 and a beta of 1.60.

In other RPC news, major shareholder Rollins Holding Company, Inc. sold 365,000 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $9.66, for a total transaction of $3,525,900.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gary W. Rollins sold 299,785 shares of RPC stock in a transaction that occurred on Thursday, March 24th. The stock was sold at an average price of $10.35, for a total transaction of $3,102,774.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,649,785 shares of company stock worth $16,397,775. 65.90% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace North America L.P. acquired a new position in shares of RPC in the 1st quarter worth approximately $25,000. Royal Bank of Canada grew its stake in shares of RPC by 594.9% in the 2nd quarter. Royal Bank of Canada now owns 5,754 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 4,926 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of RPC by 48.5% in the 1st quarter. Lindbrook Capital LLC now owns 2,788 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 911 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of RPC by 45.9% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,463 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 2,663 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of RPC in the 3rd quarter worth approximately $51,000. 27.15% of the stock is currently owned by institutional investors.

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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