Analysts Issue Forecasts for RPC, Inc.’s FY2018 Earnings (RES)

RPC, Inc. (NYSE:RES) – Stock analysts at Capital One Financial issued their FY2018 earnings per share (EPS) estimates for RPC in a report released on Wednesday, October 24th. Capital One Financial analyst L. Lemoine expects that the oil and gas company will post earnings of $0.91 per share for the year. Capital One Financial also issued estimates for RPC’s Q4 2018 earnings at $0.17 EPS, Q1 2019 earnings at $0.17 EPS, Q2 2019 earnings at $0.21 EPS, Q3 2019 earnings at $0.27 EPS, Q4 2019 earnings at $0.27 EPS and FY2019 earnings at $0.92 EPS.

RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, October 24th. The oil and gas company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.04). RPC had a return on equity of 20.77% and a net margin of 12.40%. The business had revenue of $439.99 million for the quarter, compared to analysts’ expectations of $456.54 million. During the same quarter in the previous year, the firm posted $0.26 EPS. RPC’s revenue was down 6.6% on a year-over-year basis.



A number of other brokerages have also weighed in on RES. Cowen restated a “hold” rating and set a $15.00 price target on shares of RPC in a research note on Thursday, July 26th. Macquarie set a $13.00 price target on RPC and gave the stock a “hold” rating in a research note on Thursday, October 25th. Bank of America initiated coverage on RPC in a research note on Wednesday, October 17th. They set a “neutral” rating on the stock. BMO Capital Markets lowered RPC from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $19.00 to $16.00 in a research note on Thursday, August 9th. Finally, Zacks Investment Research lowered RPC from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. Three equities research analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the stock. RPC presently has an average rating of “Hold” and an average price target of $17.35.

Shares of RES stock opened at $14.99 on Monday. RPC has a fifty-two week low of $12.96 and a fifty-two week high of $27.07. The stock has a market cap of $3.09 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 0.84 and a beta of 0.84.

Hedge funds and other institutional investors have recently modified their holdings of the stock. NumerixS Investment Technologies Inc boosted its position in RPC by 101.1% in the second quarter. NumerixS Investment Technologies Inc now owns 10,861 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 5,461 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in RPC in the second quarter valued at approximately $169,000. BlueMountain Capital Management LLC boosted its position in RPC by 484.4% in the second quarter. BlueMountain Capital Management LLC now owns 12,833 shares of the oil and gas company’s stock valued at $187,000 after buying an additional 10,637 shares during the last quarter. Point72 Hong Kong Ltd boosted its position in RPC by 682.3% in the second quarter. Point72 Hong Kong Ltd now owns 13,667 shares of the oil and gas company’s stock valued at $199,000 after buying an additional 11,920 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in RPC in the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 31.83% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.40 dividend on an annualized basis and a yield of 2.67%. RPC’s dividend payout ratio is currently 60.61%.

RPC Company Profile

RPC, Inc 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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