uploads///Broker Recommendations

What Wall Street Is Forecasting for RPC after 2Q16 Earnings

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Jul. 29 2016, Updated 10:05 a.m. ET

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.

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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.

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