Equities Analysts Set Expectations for RPC, Inc.’s Q2 2020 Earnings (NYSE:RES)

RPC, Inc. (NYSE:RES) – Equities research analysts at Piper Sandler increased their Q2 2020 earnings per share estimates for shares of RPC in a report released on Wednesday, June 24th. Piper Sandler analyst I. Macpherson now anticipates that the oil and gas company will earn ($0.15) per share for the quarter, up from their prior estimate of ($0.16). Piper Sandler has a “Neutral” rating and a $3.10 price target on the stock. Piper Sandler also issued estimates for RPC’s Q3 2020 earnings at ($0.12) EPS, Q4 2020 earnings at ($0.10) EPS, Q1 2021 earnings at ($0.09) EPS, Q2 2021 earnings at ($0.07) EPS, Q3 2021 earnings at ($0.06) EPS, Q4 2021 earnings at ($0.06) EPS, FY2021 earnings at ($0.28) EPS and FY2022 earnings at $0.03 EPS.

RPC (NYSE:RES) last posted its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.02. RPC had a negative net margin of 21.81% and a negative return on equity of 4.24%. The business had revenue of $243.80 million for the quarter, compared to analysts’ expectations of $123.06 million. The firm’s revenue for the quarter was down 27.2% on a year-over-year basis.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley cut shares of RPC from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $6.00 to $2.50 in a research note on Monday, March 16th. Raymond James reissued an “outperform” rating and issued a $4.00 price objective (up from $3.00) on shares of RPC in a research note on Thursday, May 7th. ValuEngine raised shares of RPC from a “hold” rating to a “buy” rating in a research note on Friday, May 1st. Citigroup increased their price objective on shares of RPC from $1.90 to $2.30 and gave the company a “sell” rating in a research note on Thursday, May 21st. Finally, Scotiabank raised shares of RPC from an “underperform” rating to a “sector perform” rating and set a $3.00 price objective on the stock in a research note on Sunday, April 12th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. RPC has an average rating of “Hold” and a consensus target price of $3.56.

Shares of NYSE RES opened at $3.06 on Monday. The stock has a market cap of $663.00 million, a price-to-earnings ratio of -2.62 and a beta of 2.14. RPC has a 52 week low of $1.72 and a 52 week high of $7.53. The company’s 50-day moving average price is $3.31 and its 200 day moving average price is $3.56. The company has a current ratio of 4.06, a quick ratio of 3.24 and a debt-to-equity ratio of 0.04.

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. acquired a new stake in shares of RPC during the 1st quarter worth about $25,000. Ancora Advisors LLC acquired a new stake in shares of RPC during the 4th quarter worth about $39,000. Parametrica Management Ltd acquired a new stake in shares of RPC during the 1st quarter worth about $27,000. CA Family Wealth LLC acquired a new stake in shares of RPC during the 4th quarter worth about $81,000. Finally, SG Americas Securities LLC lifted its holdings in shares of RPC by 75.9% during the 1st quarter. SG Americas Securities LLC now owns 24,174 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 10,431 shares during the period. 30.24% of the stock is currently owned by institutional investors.

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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