Analysts expect that Superior Energy Services, Inc. (NYSE:SPN) will announce $537.70 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Superior Energy Services’ earnings, with estimates ranging from $520.47 million to $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 report its next quarterly earnings results on Tuesday, July 24th.
On average, analysts expect that Superior Energy Services will report full-year sales of $2.20 billion for the current financial year, with estimates ranging from $2.11 billion to $2.35 billion. For the next financial year, analysts expect that the company 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 sell-side research firms that follow Superior Energy Services.
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Superior Energy Services (NYSE:SPN) last announced its earnings results on Tuesday, April 24th. The oil and gas company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. Superior Energy Services had a negative return on equity of 19.29% and a negative net margin of 8.90%. The company had revenue of $482.32 million during the quarter, compared to analysts’ expectations of $494.41 million. During the same period last year, the business posted ($0.59) EPS. Superior Energy Services’s revenue for the quarter was up 20.3% on a year-over-year basis.
SPN has been the topic of a number of analyst reports. Royal Bank of Canada set a $11.00 price target on Superior Energy Services and gave the company a “hold” rating in a research report on Saturday, February 17th. Seaport Global Securities raised Superior Energy Services from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, February 21st. Credit Suisse Group increased their price target on Superior Energy Services from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $12.00 price target (up previously from $11.00) on shares of Superior Energy Services in a research report on Wednesday, February 21st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $10.25 price target on shares of Superior Energy Services in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $13.43.
SPN stock traded down $0.25 during mid-day trading on Friday, reaching $9.55. The company had a trading volume of 3,962,934 shares, compared to its average volume of 2,732,953. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.86 and a quick ratio of 1.48. The firm has a market capitalization of $1.47 billion, a P/E ratio of -5.79 and a beta of 2.06. Superior Energy Services has a fifty-two week low of $7.66 and a fifty-two week high of $12.73.
In other Superior Energy Services news, CEO David D. Dunlap bought 30,000 shares of the business’s stock in a transaction dated Thursday, April 26th. The shares were acquired at an average price of $10.89 per share, with a total value of $326,700.00. Following the transaction, the chief executive officer now owns 660,414 shares of the company’s stock, valued at $7,191,908.46. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 3.81% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jump Trading LLC acquired a new position in Superior Energy Services during the fourth quarter worth approximately $104,000. Vertex One Asset Management Inc. acquired a new position in Superior Energy Services during the first quarter worth approximately $118,000. Signition LP acquired a new position in Superior Energy Services during the first quarter worth approximately $120,000. Teza Capital Management LLC acquired a new position in Superior Energy Services during the first quarter worth approximately $146,000. Finally, MANA Advisors LLC acquired a new position in Superior Energy Services during the fourth quarter worth approximately $154,000.
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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