Q2 2018 EPS Estimates for RPC Inc. Lifted by Seaport Global Securities (RES)
RPC Inc. (NYSE:RES) – Investment analysts at Seaport Global Securities boosted their Q2 2018 EPS estimates for RPC in a report issued on Tuesday. Seaport Global Securities analyst M. Brown now anticipates that the brokerage will earn $0.10 per share for the quarter, up from their previous estimate of $0.05. Seaport Global Securities currently has a “Reduce” rating on the stock.
A number of other research analysts also recently commented on the stock. Nomura reaffirmed a “hold” rating and set a $14.00 price objective on shares of RPC in a research note on Thursday, September 22nd. Citigroup Inc. upped their price objective on shares of RPC from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, September 12th. Finally, GMP Securities raised shares of RPC from a “reduce” rating to a “hold” rating in a research note on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $14.67.
Shares of RPC (NYSE:RES) traded up 4.77% on Wednesday, reaching $17.56. 1,671,554 shares of the company were exchanged. RPC has a 1-year low of $9.73 and a 1-year high of $17.84. The stock’s market capitalization is $3.82 billion. The company has a 50-day moving average price of $15.58 and a 200 day moving average price of $14.89.
RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.23). RPC had a negative net margin of 17.29% and a negative return on equity of 16.53%. The company earned $143 million during the quarter, compared to the consensus estimate of $149.41 million. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. The firm’s quarterly revenue was down 51.9% on a year-over-year basis.
Institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. boosted its position in RPC by 1.8% in the second quarter. Alliancebernstein L.P. now owns 5,461,293 shares of the company’s stock valued at $84,814,000 after buying an additional 96,704 shares during the period. Vanguard Group Inc. boosted its position in shares of RPC by 4.2% in the second quarter. Vanguard Group Inc. now owns 4,374,514 shares of the company’s stock valued at $67,936,000 after buying an additional 178,032 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of RPC by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,974,207 shares of the company’s stock valued at $46,188,000 after buying an additional 228,052 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of RPC by 101.0% in the first quarter. TIAA CREF Investment Management LLC now owns 2,617,252 shares of the company’s stock valued at $37,113,000 after buying an additional 1,314,979 shares during the period. Finally, Teachers Advisors Inc. boosted its position in shares of RPC by 57.2% in the second quarter. Teachers Advisors Inc. now owns 2,449,157 shares of the company’s stock valued at $38,035,000 after buying an additional 891,411 shares during the period. Institutional investors own 34.92% of the company’s stock.
RPC Company Profile
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment to oil and gas companies engaged in the exploration, production and development of oil and gas properties across 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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