RPC (RES) closed at $6.94 in the latest trading session, marking a -1.14% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.11%. Meanwhile, the Dow lost 1.54%, and the Nasdaq, a tech-heavy index, lost 0.3%.
Coming into today, shares of the oil and gas services company had lost 11.7% in the past month. In that same time, the Oils-Energy sector lost 11.61%, while the S&P 500 lost 8.19%.
Investors will be hoping for strength from RPC as it approaches its next earnings release. On that day, RPC is projected to report earnings of $0.25 per share, which would represent 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.
Any recent changes to analyst estimates for RPC should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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 12.76 right now. This valuation marks a discount compared to its industry's average Forward P/E of 16.6.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 18, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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