$350.80 Million in Sales Expected for RPC, Inc. (NYSE:RES) This Quarter

Wall Street analysts expect RPC, Inc. (NYSE:RES) to announce $350.80 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for RPC’s earnings. The lowest sales estimate is $337.82 million and the highest is $367.20 million. RPC posted sales of $439.99 million in the same quarter last year, which would indicate a negative year over year growth rate of 20.3%. The business is expected to report its next earnings report on Wednesday, October 23rd.

According to Zacks, analysts expect that RPC will report full year sales of $1.37 billion for the current financial year, with estimates ranging from $1.34 billion to $1.42 billion. For the next financial year, analysts forecast that the firm will report sales of $1.47 billion, with estimates ranging from $1.26 billion to $1.87 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow RPC.

RPC (NYSE:RES) last released its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $358.50 million for the quarter, compared to the consensus estimate of $362.40 million. RPC had a net margin of 4.55% and a return on equity of 6.37%. The firm’s revenue for the quarter was down 23.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share.

A number of analysts have recently issued reports on the stock. Bank of America reaffirmed an “underperform” rating and set a $9.50 price target (down previously from $12.00) on shares of RPC in a report on Thursday, April 25th. Morgan Stanley dropped their price target on shares of RPC from $15.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. ValuEngine raised shares of RPC from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Barclays reaffirmed a “sell” rating and set a $5.50 price target on shares of RPC in a report on Sunday, July 28th. Finally, Gabelli downgraded shares of RPC from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. RPC has a consensus rating of “Hold” and an average target price of $11.87.

Several institutional investors and hedge funds have recently bought and sold shares of RES. Norges Bank purchased a new position in shares of RPC in the fourth quarter worth approximately $5,736,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of RPC in the first quarter worth approximately $3,321,000. BTIM Corp. lifted its holdings in RPC by 40.6% during the first quarter. BTIM Corp. now owns 968,870 shares of the oil and gas company’s stock valued at $11,055,000 after purchasing an additional 279,970 shares in the last quarter. Deutsche Bank AG lifted its holdings in RPC by 13.8% during the fourth quarter. Deutsche Bank AG now owns 1,272,381 shares of the oil and gas company’s stock valued at $12,557,000 after purchasing an additional 154,467 shares in the last quarter. Finally, Dean Investment Associates LLC lifted its holdings in RPC by 25.2% during the first quarter. Dean Investment Associates LLC now owns 582,640 shares of the oil and gas company’s stock valued at $6,648,000 after purchasing an additional 117,180 shares in the last quarter. 31.90% of the stock is currently owned by institutional investors.

Shares of NYSE RES traded up $0.07 during trading on Friday, reaching $5.79. 240,130 shares of the company traded hands, compared to its average volume of 2,976,145. The firm’s 50 day moving average price is $6.57. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.13 and a quick ratio of 2.45. The stock has a market capitalization of $1.24 billion, a PE ratio of 7.06, a PEG ratio of 33.26 and a beta of 1.04. RPC has a 52-week low of $5.43 and a 52-week high of $17.24.

RPC Company Profile

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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Earnings History and Estimates for RPC (NYSE:RES)

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