Wall Street analysts expect RPC, Inc. (NYSE:RES) to announce $97.42 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for RPC's earnings, with estimates ranging from $89.40 million to $106.95 million. RPC reported sales of $293.24 million during the same quarter last year, which would suggest a negative year over year growth rate of 66.8%. The firm is expected to issue its next quarterly earnings report on Wednesday, October 28th.
On average, analysts expect that RPC will report full year sales of $547.77 million for the current fiscal year, with estimates ranging from $520.00 million to $635.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $545.74 million, with estimates ranging from $469.60 million to $716.57 million. Zacks Investment Research's sales averages are an average based on a survey of research firms that follow RPC.
RPC (NYSE:RES) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.03. RPC had a negative net margin of 32.25% and a negative return on equity of 8.40%. The company had revenue of $89.30 million during the quarter, compared to the consensus estimate of $102.50 million. During the same period in the previous year, the firm posted $0.03 EPS. The firm's revenue was down 75.1% compared to the same quarter last year.
RES has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of RPC from $2.30 to $2.80 and gave the stock a "sell" rating in a report on Wednesday, August 26th. Piper Sandler lifted their target price on shares of RPC from $2.80 to $3.10 and gave the stock a "neutral" rating in a research report on Thursday, May 28th. Morgan Stanley lifted their target price on shares of RPC from $2.50 to $3.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 8th. Finally, Capital One Financial reiterated an "equal weight" rating on shares of RPC in a research report on Wednesday, July 29th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of "Hold" and an average price target of $3.56.
Several hedge funds have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. purchased a new position in shares of RPC in the first quarter valued at about $25,000. Comerica Bank increased its position in shares of RPC by 7.7% in the second quarter. Comerica Bank now owns 54,281 shares of the oil and gas company's stock valued at $178,000 after acquiring an additional 3,877 shares during the period. Mraz Amerine & Associates Inc. increased its position in shares of RPC by 1.0% during the second quarter. Mraz Amerine & Associates Inc. now owns 431,660 shares of the oil and gas company's stock valued at $1,330,000 after buying an additional 4,425 shares during the period. Horizon Kinetics Asset Management LLC increased its position in shares of RPC by 8.0% during the first quarter. Horizon Kinetics Asset Management LLC now owns 62,478 shares of the oil and gas company's stock valued at $129,000 after buying an additional 4,649 shares during the period. Finally, Swiss National Bank increased its position in shares of RPC by 4.1% during the first quarter. Swiss National Bank now owns 124,800 shares of the oil and gas company's stock valued at $257,000 after buying an additional 4,900 shares during the period. Hedge funds and other institutional investors own 26.70% of the company's stock.
NYSE RES opened at $3.07 on Wednesday. RPC has a 52-week low of $1.72 and a 52-week high of $6.81. The company has a market capitalization of $660.43 million, a P/E ratio of -2.33 and a beta of 2.13. The company has a fifty day moving average of $3.22 and a 200-day moving average of $3.01.
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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