Equities research analysts predict that Superior Energy Services, Inc. (NYSE:SPN) will post sales of $537.70 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Superior Energy Services’ earnings, with the lowest sales estimate coming in at $520.47 million and the highest estimate coming in at $576.13 million. Superior Energy Services reported sales of $470.07 million in the same quarter last year, which indicates a positive year over year growth rate of 14.4%. The business is expected to announce its next earnings report on Tuesday, July 24th.
On average, analysts expect that Superior Energy Services will report full year sales of $2.20 billion for the current year, with estimates ranging from $2.11 billion to $2.35 billion. For the next fiscal year, analysts anticipate that the business will post sales of $2.47 billion per share, with estimates ranging from $2.26 billion to $2.72 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Superior Energy Services.
Superior Energy Services (NYSE:SPN) last issued its quarterly earnings data on Tuesday, April 24th. The oil and gas company reported ($0.34) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.01. Superior Energy Services had a negative net margin of 8.90% and a negative return on equity of 19.29%. The firm had revenue of $482.32 million for the quarter, compared to analysts’ expectations of $494.41 million. During the same quarter in the prior year, the business earned ($0.59) EPS. The business’s quarterly revenue was up 20.3% on a year-over-year basis.
SPN has been the topic of several recent research reports. Barclays increased their price objective on shares of Superior Energy Services from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday, April 27th. ValuEngine cut shares of Superior Energy Services from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Jefferies Group restated a “hold” rating and set a $11.00 target price on shares of Superior Energy Services in a research note on Thursday, April 26th. Citigroup raised their target price on shares of Superior Energy Services from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, April 30th. Finally, Cowen restated an “outperform” rating and set a $13.00 target price (up previously from $12.00) on shares of Superior Energy Services in a research note on Thursday, April 26th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $13.43.
In related news, CEO David D. Dunlap acquired 30,000 shares of the business’s stock in a transaction on Thursday, April 26th. The stock was acquired at an average cost of $10.89 per share, with a total value of $326,700.00. Following the acquisition, the chief executive officer now directly owns 660,414 shares in the company, valued at approximately $7,191,908.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.81% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in SPN. Schwab Charles Investment Management Inc. grew its holdings in Superior Energy Services by 7.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 994,043 shares of the oil and gas company’s stock valued at $9,573,000 after buying an additional 67,058 shares in the last quarter. Oakbrook Investments LLC purchased a new position in shares of Superior Energy Services in the fourth quarter valued at $108,000. Cerebellum GP LLC purchased a new position in shares of Superior Energy Services in the fourth quarter valued at $127,000. SG Americas Securities LLC grew its holdings in shares of Superior Energy Services by 71.8% in the fourth quarter. SG Americas Securities LLC now owns 108,040 shares of the oil and gas company’s stock valued at $1,040,000 after purchasing an additional 45,150 shares in the last quarter. Finally, Hermes Investment Management Ltd. grew its holdings in shares of Superior Energy Services by 8.0% in the fourth quarter. Hermes Investment Management Ltd. now owns 1,551,858 shares of the oil and gas company’s stock valued at $14,944,000 after purchasing an additional 115,382 shares in the last quarter.
Shares of Superior Energy Services opened at $11.93 on Thursday, Marketbeat.com reports. Superior Energy Services has a twelve month low of $7.66 and a twelve month high of $12.73. The company has a current ratio of 1.86, a quick ratio of 1.48 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $1.91 billion, a PE ratio of -7.23 and a beta of 2.05.
About Superior Energy Services
Superior Energy Services, Inc provides oilfield services and equipment to oil and natural gas exploration and production companies in the United States, the Gulf of Mexico, and internationally. The company operates in four segments: Drilling Products and Services, Onshore Completion and Workover Services, Production Services, and Technical Solutions.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Superior Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Superior Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.