Wall Street’s forecasts for RPC
In this final part of the series, we’ll look at Wall Street analysts’ forecasts for RPC (RES) shares following its fiscal 2Q16 earnings release.
Consensus rating for RPC
Approximately 43% of analysts tracking RPC rated it a “buy” or some equivalent. Approximately 43% rated the company a “hold” or an equivalent. Only 14% of the analysts recommended a “sell.” RPC makes up only 0.01% of the iShares Russell 1000 Value (IWD).
In comparison, approximately 80% of analysts tracking C&J Energy Services (CJES) rate it a “hold” or some equivalent, and approximately 20% rate it a “sell.”
Analyst recommendations for RPC
When it comes to individual recommendations, Stephens gave RPC a target price of $11 after its fiscal 2Q16 earnings release. RPC currently trades near $14.50, implying a -24% return for the next 12 months.
Among the large investment banks, Morgan Stanley (MS) gave RPC a one-year target price of $22, one of RPC’s highest target prices. This implies a 51% return over the next year.
Another investment bank, Piper Jaffray, gave RPC a one-year target price of $10. That’s one of RPC’s lowest target prices. This implies a -31% return at its current price over the next 12 months.
Analysts’ target prices for RPC
Following RPC’s fiscal 2Q16 financial results, its highest target price is $22. The lowest is $10. The median target price surveyed among the sell-side analysts is ~$15. RPC is currently trading at ~$14.50, implying a ~3% upside at its median price.