RPC Inc. (RES) PT Raised to $27 at FBR Capital Following 3Q
Get 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
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FBR Capital raised its price target on RPC Inc. (NYSE: RES) to $27.00 (from $24.00) while maintaining a Buy rating following the company's 3Q. Relative to consensus, RES reported slightly lower revenue but higher EBITDA of $471.0M and $137.5M versus $474.5M and $135.5M -- and in line recurring EPS of $0.28.
FBR lifted 2018 EBITDA/EPS estimates from $622M/ $1.27 to $716M/$1.55 to reflect RES's newbuild horsepower (HHP) order and further expected pricing and efficiency gains.
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