Analysts expect RPC, Inc. (NYSE:RES) to announce $484.15 million in sales for the current quarter, Zacks reports. Seven analysts have made estimates for RPC’s earnings. The lowest sales estimate is $454.80 million and the highest is $568.70 million. RPC reported sales of $298.12 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 62.4%. The company is expected to issue its next earnings report before the market opens on Wednesday, April 25th.
On average, analysts expect that RPC will report full year sales of $484.15 million for the current financial year, with estimates ranging from $2.02 billion to $2.41 billion. For the next financial year, analysts expect that the business will post sales of $2.48 billion per share, with estimates ranging from $2.27 billion to $2.84 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover RPC.
RPC (NYSE:RES) last announced its earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.16). RPC had a net margin of 10.19% and a return on equity of 16.90%. The business had revenue of $427.30 million for the quarter, compared to the consensus estimate of $515.04 million. During the same quarter in the previous year, the company earned ($0.10) EPS. RPC’s revenue for the quarter was up 93.3% compared to the same quarter last year.
Institutional investors and hedge funds have recently modified their holdings of the company. Zions Bancorporation acquired a new position in shares of RPC in the 3rd quarter worth approximately $137,000. CENTRAL TRUST Co acquired a new position in shares of RPC in the 4th quarter worth approximately $147,000. State of Alaska Department of Revenue acquired a new position in shares of RPC in the 4th quarter worth approximately $147,000. YorkBridge Wealth Partners LLC raised its holdings in shares of RPC by 791.2% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 5,855 shares of the oil and gas company’s stock worth $115,000 after buying an additional 5,198 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of RPC by 7.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock worth $132,000 after buying an additional 459 shares in the last quarter. 35.32% of the stock is owned by institutional investors and hedge funds.
RPC stock traded down $1.05 during trading hours on Monday, hitting $17.21. The stock had a trading volume of 1,189,839 shares, compared to its average volume of 1,216,116. The stock has a market cap of $3,959.46, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 0.62 and a beta of 0.83. RPC has a fifty-two week low of $16.87 and a fifty-two week high of $27.07.
RPC declared that its Board of Directors has initiated a share buyback program on Monday, February 12th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 9th were issued a $0.10 dividend. The ex-dividend date was Thursday, February 8th. This is a boost from RPC’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.32%. RPC’s dividend payout ratio is presently 60.61%.
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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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