FBR Capital Maintains a 'Market Perform' on RPC Inc. (RES); No Change to Outlook Following 1Q11 Earnings
Tweet
Share
E-mailGet Alerts RES Hot Sheet
Price: $7.92 -1.37%
Rating Summary:
6 Buy, 16 Hold, 11 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
6 Buy, 16 Hold, 11 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Join SI Premium – FREE
FBR Capital maintains a 'Market Perform' on RPC Inc. (NYSE: RES), PT $27.
FBR analyst says, "While the company did beat the consensus estimate, this was not surprising given the strong results reported by other companies over the past week. Horsepower additions do provide RPC with built-in growth, and we still believe there are legs to the North American pressure-pumping story. However, Halliburton Company (NYSE: HAL)(Outperform) is our preferred way to play this trend due to its technological leadership."
"We are incorporating RPC's incremental horsepower additions into our model, which is offset by more conservative pricing assumptions. On a net basis, we are lowering our 2011 earnings estimate to $2.05 from $2.10 and our 2012 estimate is unchanged at $2.35."
For more ratings news on RPC Inc. click here and for the rating history of RPC Inc. click here.
Shares of RPC Inc. closed at $26.23 yesterday.
FBR analyst says, "While the company did beat the consensus estimate, this was not surprising given the strong results reported by other companies over the past week. Horsepower additions do provide RPC with built-in growth, and we still believe there are legs to the North American pressure-pumping story. However, Halliburton Company (NYSE: HAL)(Outperform) is our preferred way to play this trend due to its technological leadership."
"We are incorporating RPC's incremental horsepower additions into our model, which is offset by more conservative pricing assumptions. On a net basis, we are lowering our 2011 earnings estimate to $2.05 from $2.10 and our 2012 estimate is unchanged at $2.35."
For more ratings news on RPC Inc. click here and for the rating history of RPC Inc. click here.
Shares of RPC Inc. closed at $26.23 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Goldman Sachs on Meta Platforms Inc. (META): 'We expect investors to have an initial negative reaction'
- Alamos Gold (AGI) Misses Q1 EPS by 1c
- Teradyne (TER) Tops Q1 EPS by 18c
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
