Superior Energy Services Inc. (NYSE:SPN) – Jefferies Group dropped their FY2016 earnings per share (EPS) estimates for Superior Energy Services in a note issued to investors on Monday. Jefferies Group analyst B. Handler now forecasts that the firm will post earnings per share of ($2.54) for the year, down from their previous forecast of ($2.15). Jefferies Group has a “Buy” rating and a $22.00 price objective on the stock. Jefferies Group also issued estimates for Superior Energy Services’ Q4 2016 earnings at ($0.78) EPS, Q1 2017 earnings at ($0.63) EPS, Q2 2017 earnings at ($0.55) EPS, Q3 2017 earnings at ($0.43) EPS, Q4 2017 earnings at ($0.30) EPS, FY2017 earnings at ($1.90) EPS and FY2018 earnings at ($0.40) EPS.

Several other brokerages have also recently commented on SPN. Scotiabank reiterated a “sector outperform” rating and issued a $20.00 target price (down from $25.00) on shares of Superior Energy Services in a report on Wednesday, October 26th. Deutsche Bank AG decreased their target price on shares of Superior Energy Services from $24.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Howard Weil cut shares of Superior Energy Services from a “focus stock” rating to a “sector outperform” rating and decreased their target price for the stock from $25.00 to $20.00 in a report on Wednesday, October 26th. Cowen and Company decreased their target price on shares of Superior Energy Services from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Finally, Citigroup Inc. cut shares of Superior Energy Services from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $19.00 in a report on Tuesday, October 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. Superior Energy Services has an average rating of “Buy” and a consensus price target of $16.38.

Earnings History and Estimates for Superior Energy Services (NYSE:SPN)

Superior Energy Services (NYSE:SPN) traded up 0.469% during trading on Thursday, hitting $16.075. 790,674 shares of the stock were exchanged. Superior Energy Services has a 12-month low of $8.25 and a 12-month high of $19.83. The firm’s market cap is $2.44 billion. The stock’s 50-day moving average price is $16.55 and its 200-day moving average price is $16.86.

Superior Energy Services (NYSE:SPN) last posted its quarterly earnings data on Monday, October 24th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by $0.16. The firm earned $326.23 million during the quarter, compared to analyst estimates of $356.73 million. Superior Energy Services had a negative net margin of 55.65% and a negative return on equity of 17.51%. The business’s quarterly revenue was down 45.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.46) EPS.

Several institutional investors have recently modified their holdings of the stock. LPL Financial LLC increased its position in Superior Energy Services by 27.2% in the third quarter. LPL Financial LLC now owns 37,468 shares of the company’s stock worth $663,000 after buying an additional 8,004 shares during the period. Ameritas Investment Partners Inc. increased its position in Superior Energy Services by 93.0% in the third quarter. Ameritas Investment Partners Inc. now owns 46,198 shares of the company’s stock worth $827,000 after buying an additional 22,257 shares during the period. Chartwell Investment Partners LLC increased its position in Superior Energy Services by 48.3% in the third quarter. Chartwell Investment Partners LLC now owns 4,393,920 shares of the company’s stock worth $78,651,000 after buying an additional 1,430,637 shares during the period. Jane Street Group LLC increased its position in Superior Energy Services by 292.4% in the third quarter. Jane Street Group LLC now owns 72,647 shares of the company’s stock worth $1,300,000 after buying an additional 54,134 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in Superior Energy Services during the third quarter worth $3,723,000.

About Superior Energy Services

5 Day Chart for NYSE:SPN

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