Equities analysts predict that Superior Energy Services, Inc. (NYSE:SPN) will announce sales of $494.25 million for the current quarter, Zacks reports. Eight analysts have provided estimates for Superior Energy Services’ earnings, with the highest sales estimate coming in at $553.17 million and the lowest estimate coming in at $446.89 million. Superior Energy Services posted sales of $400.94 million in the same quarter last year, which would indicate a positive year over year growth rate of 23.3%. The firm is scheduled to report its next quarterly earnings report after the market closes on Tuesday, April 24th.
According to Zacks, analysts expect that Superior Energy Services will report full-year sales of $494.25 million for the current year, with estimates ranging from $2.08 billion to $2.62 billion. For the next year, analysts anticipate that the firm will report sales of $2.48 billion per share, with estimates ranging from $2.22 billion to $2.83 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Superior Energy Services.
Superior Energy Services (NYSE:SPN) last announced its quarterly earnings results on Monday, February 19th. The oil and gas company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.01). Superior Energy Services had a negative net margin of 10.99% and a negative return on equity of 21.92%. The firm had revenue of $497.00 million during the quarter, compared to the consensus estimate of $509.27 million. During the same period in the previous year, the business earned ($0.74) earnings per share. The firm’s revenue for the quarter was up 40.2% on a year-over-year basis.
SPN has been the subject of a number of research analyst reports. Jefferies Group reaffirmed a “hold” rating and set a $9.00 price objective on shares of Superior Energy Services in a report on Wednesday. Deutsche Bank lifted their price objective on shares of Superior Energy Services from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. UBS raised shares of Superior Energy Services from a “neutral” rating to a “positive” rating in a report on Friday, January 5th. Scotiabank downgraded shares of Superior Energy Services to a “hold” rating in a report on Thursday, January 11th. Finally, Cowen set a $14.00 price objective on shares of Superior Energy Services and gave the stock a “buy” rating in a report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $12.86.
Several hedge funds have recently added to or reduced their stakes in SPN. Millennium Management LLC increased its position in shares of Superior Energy Services by 477.2% in the fourth quarter. Millennium Management LLC now owns 5,373,514 shares of the oil and gas company’s stock valued at $51,747,000 after acquiring an additional 4,442,479 shares during the period. Two Sigma Investments LP purchased a new position in shares of Superior Energy Services in the fourth quarter valued at about $15,582,000. Bank of New York Mellon Corp increased its position in shares of Superior Energy Services by 43.6% in the third quarter. Bank of New York Mellon Corp now owns 4,731,504 shares of the oil and gas company’s stock valued at $50,530,000 after acquiring an additional 1,437,552 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Superior Energy Services in the fourth quarter valued at about $7,810,000. Finally, Two Sigma Advisers LP increased its position in shares of Superior Energy Services by 384.5% in the fourth quarter. Two Sigma Advisers LP now owns 724,704 shares of the oil and gas company’s stock valued at $6,979,000 after acquiring an additional 575,117 shares during the period.
NYSE:SPN traded down $0.22 during trading hours on Tuesday, hitting $8.45. The stock had a trading volume of 2,391,580 shares, compared to its average volume of 2,566,767. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.03 and a quick ratio of 1.67. Superior Energy Services has a one year low of $7.66 and a one year high of $15.25. The company has a market cap of $1,303.29, a price-to-earnings ratio of -5.12 and a beta of 2.10.
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Superior Energy Services Company Profile
Superior Energy Services, Inc provides a range of services and products to the energy industry related to the exploration, development and production of oil and natural gas. The Company’s segments include Drilling Products and Services, which rents and sells bottom hole assemblies, drill pipe, tubulars and specialized equipment for use with onshore and offshore oil and gas well drilling, production and workover activities; Onshore Completion and Workover Services, which provides pressure pumping services used to complete and stimulate production in new oil and gas wells, fluid handling services and well servicing rigs that provide a range of well completion and maintenance services; Production Services, which provides intervention services, such as coiled tubing, cased hole and mechanical wireline, hydraulic workover and snubbing, and remedial pumping services, and Technical Solutions, which provides services requiring specialized engineering, manufacturing or project planning.
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