Analysts forecast that Superior Energy Services, Inc. (NYSE:SPN) will post earnings of ($0.23) per share for the current quarter, according to Zacks. Eight analysts have made estimates for Superior Energy Services’ earnings, with estimates ranging from ($0.31) to ($0.21). Superior Energy Services posted earnings per share of ($0.16) during the same quarter last year, which would indicate a negative year over year growth rate of 43.8%. The company is expected to report its next quarterly earnings results after the market closes on Tuesday, July 23rd.
According to Zacks, analysts expect that Superior Energy Services will report full year earnings of ($0.87) per share for the current fiscal year, with EPS estimates ranging from ($1.05) to ($0.75). For the next fiscal year, analysts expect that the firm will post earnings of ($0.48) per share, with EPS estimates ranging from ($0.75) to ($0.05). Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Superior Energy Services.
Superior Energy Services (NYSE:SPN) last issued its earnings results on Tuesday, April 23rd. The oil and gas company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.07). Superior Energy Services had a negative net margin of 40.00% and a negative return on equity of 19.11%. The business had revenue of $467.20 million for the quarter, compared to analysts’ expectations of $495.35 million. During the same quarter in the prior year, the business posted ($0.34) earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis.
A number of research analysts have recently weighed in on the company. Gabelli restated a “buy” rating on shares of T. Rowe Price Group in a research report on Thursday, April 25th. Scotiabank lowered Superior Energy Services from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, June 5th. Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Wolfe Research upgraded Superior Energy Services from an “underperform” rating to an “outperform” rating and set a $4.00 price objective for the company in a research report on Tuesday, June 4th. Finally, Morgan Stanley set a $207.00 price target on Alibaba Group and gave the stock a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $6.26.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System grew its holdings in shares of Superior Energy Services by 1.1% during the first quarter. Arizona State Retirement System now owns 240,546 shares of the oil and gas company’s stock valued at $1,123,000 after buying an additional 2,572 shares during the last quarter. Texas Permanent School Fund boosted its holdings in Superior Energy Services by 4.0% in the fourth quarter. Texas Permanent School Fund now owns 101,123 shares of the oil and gas company’s stock valued at $339,000 after purchasing an additional 3,895 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Superior Energy Services by 2.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 211,593 shares of the oil and gas company’s stock valued at $709,000 after purchasing an additional 4,509 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Superior Energy Services by 15.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 35,289 shares of the oil and gas company’s stock valued at $165,000 after purchasing an additional 4,616 shares during the last quarter. Finally, Comerica Bank boosted its holdings in Superior Energy Services by 3.2% in the first quarter. Comerica Bank now owns 157,186 shares of the oil and gas company’s stock valued at $789,000 after purchasing an additional 4,904 shares during the last quarter. 98.86% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:SPN traded down $0.11 on Thursday, reaching $0.95. 2,863,551 shares of the company’s stock traded hands, compared to its average volume of 3,425,437. The company has a debt-to-equity ratio of 5.18, a quick ratio of 1.76 and a current ratio of 2.12. The stock’s 50-day moving average is $1.43. The stock has a market capitalization of $166.10 million, a price-to-earnings ratio of -1.06 and a beta of 2.31. Superior Energy Services has a 12 month low of $0.95 and a 12 month high of $11.14.
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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