Citigroup Inc. Raises Superior Energy Services Inc. (SPN) Price Target to $22.00
Superior Energy Services Inc. (NYSE:SPN) had its target price upped by research analysts at Citigroup Inc. from $21.00 to $22.00 in a research note issued on Tuesday. The firm presently has a “buy” rating on the stock. Citigroup Inc.’s price objective indicates a potential upside of 18.53% from the company’s current price.
Several other analysts have also issued reports on the company. Loop Capital began coverage on Superior Energy Services in a report on Friday, September 30th. They set a “buy” rating for the company. Seaport Global Securities reiterated a “buy” rating on shares of Superior Energy Services in a report on Friday, August 19th. Nomura set a $15.00 price objective on Superior Energy Services and gave the stock a “hold” rating in a report on Tuesday, August 16th. Scotiabank reiterated a “focus stock” rating and set a $25.00 price objective (down from $27.00) on shares of Superior Energy Services in a report on Wednesday, July 27th. Finally, Jefferies Group reiterated a “buy” rating and set a $21.00 price objective on shares of Superior Energy Services in a report on Wednesday, July 27th. Eight analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $17.01.
Shares of Superior Energy Services (NYSE:SPN) traded down 3.23% on Tuesday, reaching $17.96. The company had a trading volume of 1,772,892 shares. Superior Energy Services has a 52-week low of $8.25 and a 52-week high of $19.83. The firm’s market capitalization is $2.72 billion. The company has a 50-day moving average price of $16.61 and a 200-day moving average price of $16.53.
Superior Energy Services (NYSE:SPN) last released its earnings results on Monday, July 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.58) by $0.05. The company earned $356.30 million during the quarter, compared to analyst estimates of $367.73 million. Superior Energy Services had a negative return on equity of 13.55% and a negative net margin of 84.36%. The company’s revenue for the quarter was down 49.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.31) earnings per share. Equities research analysts forecast that Superior Energy Services will post ($2.13) EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Superior Energy Services by 3.9% in the second quarter. Vanguard Group Inc. now owns 11,242,025 shares of the company’s stock worth $206,966,000 after buying an additional 419,893 shares in the last quarter. FMR LLC raised its stake in Superior Energy Services by 10.6% in the second quarter. FMR LLC now owns 7,020,066 shares of the company’s stock worth $129,239,000 after buying an additional 673,100 shares in the last quarter. BlackRock Fund Advisors raised its stake in Superior Energy Services by 3.2% in the second quarter. BlackRock Fund Advisors now owns 5,828,371 shares of the company’s stock worth $107,300,000 after buying an additional 179,772 shares in the last quarter. Franklin Resources Inc. raised its stake in Superior Energy Services by 16.6% in the first quarter. Franklin Resources Inc. now owns 5,453,202 shares of the company’s stock worth $73,018,000 after buying an additional 775,129 shares in the last quarter. Finally, BlackRock Advisors LLC raised its stake in Superior Energy Services by 4.5% in the second quarter. BlackRock Advisors LLC now owns 4,968,259 shares of the company’s stock worth $91,466,000 after buying an additional 212,691 shares in the last quarter.
Superior Energy Services Company Profile
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