Today: Today, Q3 2016 Earnings Forecast for RPC Inc. (RES) Issued By Seaport Global Securities

Today, Q3 2016 Earnings Forecast for RPC Inc. (RES) Issued By Seaport Global Securities

RPC Inc. (NYSE:RES) – Seaport Global Securities boosted their Q3 2016 earnings estimates for shares of RPC in a report issued on Tuesday. Seaport Global Securities analyst M. Brown now expects that the firm will post earnings per share of ($0.20) for the quarter, up from their previous estimate of ($0.23). Seaport Global Securities has a “Reduce” rating on the stock. Seaport Global Securities also issued estimates for RPC’s Q4 2016 earnings at ($0.17) EPS, Q1 2017 earnings at ($0.14) EPS, Q2 2017 earnings at ($0.10) EPS, Q3 2017 earnings at ($0.05) EPS, Q4 2017 earnings at ($0.01) EPS, FY2017 earnings at ($0.30) EPS, Q1 2018 earnings at $0.06 EPS, Q3 2018 earnings at $0.16 EPS and FY2018 earnings at $0.52 EPS.

RPC (NYSE:RES) last issued its earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.23). The firm had revenue of $143 million for the quarter, compared to analyst estimates of $149.41 million. RPC had a negative return on equity of 16.53% and a negative net margin of 17.29%. The business’s revenue was down 51.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.16) earnings per share.

A number of other equities research analysts have also recently commented on RES. Citigroup Inc. raised their price target on RPC from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, July 13th. GMP Securities raised RPC from a “reduce” rating to a “hold” rating in a report on Thursday, July 28th. Finally, Nomura set a $14.00 price target on RPC and gave the company a “hold” rating in a report on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $14.67.

RPC (NYSE:RES) traded up 1.83% during mid-day trading on Thursday, hitting $17.83. The company had a trading volume of 504,861 shares. The company’s market capitalization is $3.88 billion. RPC has a 52 week low of $9.73 and a 52 week high of $17.85. The firm’s 50 day moving average is $15.64 and its 200 day moving average is $14.90.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its position in shares of RPC by 27.5% in the third quarter. BNP Paribas Arbitrage SA now owns 6,118 shares of the company’s stock valued at $103,000 after buying an additional 1,319 shares during the period. Pacer Advisors Inc. acquired a new position in shares of RPC during the second quarter valued at about $107,000. Glenmede Trust Co. NA raised its position in shares of RPC by 1.2% in the second quarter. Glenmede Trust Co. NA now owns 9,106 shares of the company’s stock valued at $141,000 after buying an additional 106 shares during the period. Teacher Retirement System of Texas raised its position in shares of RPC by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,093 shares of the company’s stock valued at $141,000 after buying an additional 1,103 shares during the period. Finally, Raymond James & Associates acquired a new position in shares of RPC during the second quarter valued at about $155,000. Institutional investors and hedge funds own 34.92% of the company’s stock.

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