Brokerages expect RPC, Inc. (NYSE: RES – Get Rating) to announce sales of $ 322.10 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for RPC’s earnings, with the lowest sales estimate coming in at $ 315.00 million and the highest estimate coming in at $ 334.90 million. RPC posted sales of $ 188.76 million in the same quarter last year, which would indicate a positive year over year growth rate of 70.6%. The company is scheduled to issue its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that RPC will report full-year sales of $ 1.32 billion for the current fiscal year, with estimates ranging from $ 1.29 billion to $ 1.35 billion. For the next financial year, analysts forecast that the business will report sales of $ 1.55 billion, with estimates ranging from $ 1.45 billion to $ 1.61 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow RPC.
RPC (NYSE: RES – Get 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, hitting the consensus estimate of $ 0.07. RPC had a return on equity of 5.00% and a net margin of 3.31%. The company had revenue of $ 284.60 million during the quarter, compared to analysts’ expectations of $ 286.68 million. During the same quarter last year, the firm earned ($ 0.05) earnings per share. The firm’s quarterly revenue was up 55.9% compared to the same quarter last year.
Several research analysts have weighed in on the stock. Atb Cap Markets reaffirmed an “underperform” rating on shares of RPC in a research note on Sunday, April 17th. Citigroup lifted their target price on shares of RPC to $ 10.00 and gave the company a “na” rating in a report on Tuesday, May 17th. Zacks Investment Research cut RPC from a “strong-buy” rating to a “hold” rating and set a $ 11.00 price target on the stock. in a research note on Tuesday, March 29th. StockNews.com initiated coverage on RPC in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Johnson Rice raised RPC from a “hold” rating to an “accumulate” rating and set a $ 13.00 target price on the stock in a research note on Wednesday, April 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $ 11.33.
In related news, Director Gary W. Rollins sold 500,000 shares of RPC stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $ 9.54, for a total value of $ 4,770,000.00. Following the sale, the director now directly owns 5,540,392 shares in the company, valued at $ 52,855,339.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Lor Inc sold 750,000 shares of the company stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $ 9.56, for a total value of $ 7,170,000.00. Following the transaction, the insider now directly owns 6,040,392 shares in the company, valued at approximately $ 57,746,147.52. The disclosure for this sale can be found here. Insiders have sold 4,464,393 shares of company stock worth $ 42,446,111 in the last quarter. Insiders own 65.90% of the company stock.
A number of institutional investors have recently modified their holdings of RES. Marshall Wace North America LP acquired a new stake in RPC during the 1st quarter worth approximately $ 25,000. Royal Bank of Canada grew its stake in RPC by 594.9% during the second quarter. Royal Bank of Canada now owns 5,754 shares of the oil and gas company stock worth $ 28,000 after buying an additional 4,926 shares during the period. Lindbrook Capital LLC increased its position in shares of RPC by 48.5% in the first quarter. Lindbrook Capital LLC now owns 2,788 shares of the oil and gas company stock worth $ 30,000 after acquiring an additional 911 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of RPC by 170.6% during the first quarter. Nisa Investment Advisors LLC now owns 4,600 shares of the oil and gas company stock worth $ 49,000 after purchasing an additional 2,900 shares in the last quarter. Finally, the Teacher Retirement System of Texas acquired a new stake in RPC in the third quarter valued at approximately $ 51,000. Hedge funds and other institutional investors own 27.15% of the company stock.
Shares of NYSE: RES opened at $ 9.29 on Friday. The business has a 50-day moving average price of $ 10.35 and a 200 day moving average price of $ 7.86. RPC has a 12-month low of $ 3.33 and a 12-month high of $ 12.91. The company has a market capitalization of $ 2.01 billion, a price-to-earnings ratio of 61.94 and a beta of 1.52.
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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