Equities research analysts forecast that Superior Energy Services, Inc. (NYSE:SPN) will report sales of $443.39 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Superior Energy Services’ earnings, with estimates ranging from $402.8 million to $468.7 million. Superior Energy Services posted sales of $356.27 million during the same quarter last year, which suggests a positive year over year growth rate of 24.5%. The company is scheduled to announce its next quarterly earnings report on Monday, July 24th.
On average, analysts expect that Superior Energy Services will report full year sales of $443.39 million for the current fiscal year, with estimates ranging from $1.63 billion to $2 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.54 billion per share, with estimates ranging from $1.89 billion to $3.04 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Superior Energy Services.
Superior Energy Services (NYSE:SPN) last announced its quarterly earnings data on Tuesday, April 25th. The oil and gas company reported ($0.59) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.61) by $0.02. Superior Energy Services had a negative return on equity of 17.51% and a negative net margin of 55.65%. The firm had revenue of $400.94 million during the quarter, compared to analysts’ expectations of $388.26 million. During the same quarter last year, the firm posted ($0.49) earnings per share. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year.
SPN has been the topic of several recent research reports. Barclays PLC restated a “buy” rating and issued a $19.00 price target on shares of Superior Energy Services in a research note on Wednesday, March 1st. Jefferies Group LLC cut Superior Energy Services from a “buy” rating to a “hold” rating and lowered their price target for the company from $20.00 to $19.00 in a report on Friday, February 17th. SunTrust Banks, Inc. began coverage on Superior Energy Services in a report on Wednesday, January 18th. They set a “hold” rating and a $20.00 price target on the stock. Morgan Stanley increased their price target on Superior Energy Services from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, January 31st. Finally, Tudor Pickering began coverage on Superior Energy Services in a report on Thursday, March 23rd. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Superior Energy Services presently has an average rating of “Buy” and an average price target of $19.63.
Shares of Superior Energy Services (NYSE:SPN) opened at 11.11 on Wednesday. Superior Energy Services has a 52 week low of $10.45 and a 52 week high of $19.83. The firm has a 50-day moving average price of $13.21 and a 200-day moving average price of $15.75. The firm’s market cap is $1.70 billion.
In other Superior Energy Services news, insider David D. Dunlap purchased 45,000 shares of the stock in a transaction on Friday, April 28th. The shares were bought at an average cost of $12.26 per share, with a total value of $551,700.00. Following the completion of the acquisition, the insider now owns 530,657 shares in the company, valued at $6,505,854.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.91% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Tyers Asset Management LLC purchased a new position in shares of Superior Energy Services during the fourth quarter worth $106,000. Independent Portfolio Consultants Inc. purchased a new position in shares of Superior Energy Services during the first quarter worth $105,000. Flinton Capital Management LLC purchased a new position in shares of Superior Energy Services during the fourth quarter worth $135,000. Washington Trust Bank increased its position in shares of Superior Energy Services by 17.7% in the first quarter. Washington Trust Bank now owns 9,810 shares of the oil and gas company’s stock worth $140,000 after buying an additional 1,478 shares during the period. Finally, Neuburgh Advisers LLC increased its position in shares of Superior Energy Services by 9.1% in the first quarter. Neuburgh Advisers LLC now owns 10,574 shares of the oil and gas company’s stock worth $151,000 after buying an additional 884 shares during the period.
Superior Energy Services Company Profile
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