Wall Street analysts expect RPC, Inc. (NYSE:RES) to report sales of $471.92 million for the current quarter, Zacks reports. Eight analysts have made estimates for RPC’s earnings. The lowest sales estimate is $448.20 million and the highest is $499.30 million. RPC posted sales of $175.88 million in the same quarter last year, which would indicate a positive year over year growth rate of 168.3%. The firm is expected to issue its next quarterly earnings results before the market opens on Wednesday, October 25th.
According to Zacks, analysts expect that RPC will report full-year sales of $471.92 million for the current fiscal year, with estimates ranging from $1.65 billion to $1.78 billion. For the next year, analysts expect that the business will report sales of $2.20 billion per share, with estimates ranging from $1.79 billion to $2.52 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover RPC.
RPC (NYSE:RES) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $399.00 million for the quarter, compared to analyst estimates of $415.65 million. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. The business’s quarterly revenue was up 179.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.23) earnings per share.
A number of research firms recently commented on RES. Credit Suisse Group downgraded shares of RPC from an “outperform” rating to a “neutral” rating in a research report on Friday. They noted that the move was a valuation call. Deutsche Bank AG initiated coverage on shares of RPC in a research report on Tuesday. They set a “hold” rating and a $25.00 price objective on the stock. Cowen and Company set a $24.00 price objective on shares of RPC and gave the stock a “hold” rating in a research report on Friday, October 6th. Citigroup Inc. raised their price objective on shares of RPC from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, October 5th. Finally, Jefferies Group LLC downgraded shares of RPC from a “buy” rating to a “hold” rating and set a $26.00 price objective on the stock. in a research report on Thursday, October 5th. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $23.36.
Several large investors have recently bought and sold shares of RES. BNP Paribas Arbitrage SA boosted its position in shares of RPC by 40.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock valued at $192,000 after purchasing an additional 3,048 shares in the last quarter. Swiss National Bank boosted its position in shares of RPC by 2.5% during the 1st quarter. Swiss National Bank now owns 107,400 shares of the oil and gas company’s stock valued at $1,966,000 after purchasing an additional 2,600 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of RPC by 48.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 43,792 shares of the oil and gas company’s stock valued at $802,000 after purchasing an additional 14,380 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of RPC during the 1st quarter valued at about $1,013,000. Finally, Sei Investments Co. boosted its position in shares of RPC by 5.0% during the 1st quarter. Sei Investments Co. now owns 32,451 shares of the oil and gas company’s stock valued at $594,000 after purchasing an additional 1,535 shares in the last quarter. Institutional investors own 38.17% of the company’s stock.
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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