Analysts expect Superior Energy Services, Inc. (NYSE:SPN) to report $530.22 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Superior Energy Services’ earnings. The lowest sales estimate is $520.80 million and the highest is $543.00 million. Superior Energy Services posted sales of $497.04 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.7%. The business is expected to report its next earnings results on Monday, February 18th.
According to Zacks, analysts expect that Superior Energy Services will report full year sales of $2.12 billion for the current year, with estimates ranging from $2.11 billion to $2.13 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.26 billion, with estimates ranging from $2.16 billion to $2.42 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Superior Energy Services.
Superior Energy Services (NYSE:SPN) last announced its quarterly earnings results on Monday, October 22nd. The oil and gas company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The company had revenue of $573.07 million during the quarter, compared to analysts’ expectations of $563.47 million. Superior Energy Services had a negative return on equity of 14.06% and a negative net margin of 4.76%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.33) EPS.
Several analysts have commented on SPN shares. ValuEngine cut shares of Superior Energy Services from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Cleveland Research cut shares of Superior Energy Services from a “buy” rating to a “neutral” rating in a research note on Thursday, October 18th. Morgan Stanley cut shares of Superior Energy Services from an “equal weight” rating to an “underweight” rating in a research note on Thursday, July 12th. JPMorgan Chase & Co. decreased their price target on shares of Superior Energy Services from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, September 17th. Finally, Zacks Investment Research cut shares of Superior Energy Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Superior Energy Services presently has an average rating of “Hold” and a consensus target price of $11.76.
Shares of SPN stock opened at $7.82 on Friday. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -4.74 and a beta of 2.12. Superior Energy Services has a 52 week low of $7.28 and a 52 week high of $12.73. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.65 and a current ratio of 2.03.
In other Superior Energy Services news, CFO Westervelt T. Ballard, Jr. bought 4,000 shares of Superior Energy Services stock in a transaction dated Wednesday, October 24th. The shares were purchased at an average cost of $7.68 per share, for a total transaction of $30,720.00. Following the acquisition, the chief financial officer now directly owns 88,004 shares in the company, valued at approximately $675,870.72. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.81% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Tygh Capital Management Inc. grew its holdings in Superior Energy Services by 1.1% during the 2nd quarter. Tygh Capital Management Inc. now owns 477,454 shares of the oil and gas company’s stock valued at $4,650,000 after purchasing an additional 5,396 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in Superior Energy Services by 4.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 133,123 shares of the oil and gas company’s stock valued at $1,297,000 after purchasing an additional 5,692 shares during the last quarter. Guggenheim Capital LLC grew its holdings in Superior Energy Services by 2.7% during the 1st quarter. Guggenheim Capital LLC now owns 247,292 shares of the oil and gas company’s stock valued at $2,085,000 after purchasing an additional 6,540 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Superior Energy Services by 28.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 35,453 shares of the oil and gas company’s stock valued at $345,000 after purchasing an additional 7,824 shares during the last quarter. Finally, Glen Harbor Capital Management LLC grew its holdings in Superior Energy Services by 58.3% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 21,328 shares of the oil and gas company’s stock valued at $208,000 after purchasing an additional 7,856 shares during the last quarter.
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.
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