RPC (RES) closed at $7.06 in the latest trading session, marking a -0.56% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.71%. Elsewhere, the Dow lost 1.7%, while the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the oil and gas services company had lost 13.63% in the past month. In that same time, the Oils-Energy sector lost 2.7%, while the S&P 500 lost 8.68%.
Wall Street will be looking for positivity from RPC as it approaches its next earnings report date. In that report, analysts expect RPC to post earnings of $0.25 per share. This would mark year-over-year growth of 1150%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $378.45 million, up 67.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.55 per share and revenue of $1.38 billion, which would represent changes of +1733.33% and +59.61%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for RPC. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. RPC is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that RPC has a Forward P/E ratio of 12.91 right now. Its industry sports an average Forward P/E of 17.55, so we one might conclude that RPC is trading at a discount comparatively.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 21, putting it in the top 9% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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