Superior Energy Services Inc. (SPN) Receives Consensus Recommendation of “Buy” from Analysts
Superior Energy Services Inc. (NYSE:SPN) has been given an average recommendation of “Buy” by the thirty-five brokerages that are presently covering the firm. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $16.13.
Several research firms have weighed in on SPN. Cowen and Company decreased their price target on shares of Superior Energy Services from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Seaport Global Securities reaffirmed a “buy” rating on shares of Superior Energy Services in a research note on Friday, August 19th. Jefferies Group set a $22.00 price target on shares of Superior Energy Services and gave the company a “buy” rating in a research note on Monday, October 24th. Deutsche Bank AG decreased their price target on shares of Superior Energy Services from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. Finally, Nomura set a $15.00 price objective on shares of Superior Energy Services and gave the company a “hold” rating in a report on Tuesday, August 16th.
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Several large investors have recently added to or reduced their stakes in the stock. BlueMountain Capital Management LLC bought a new stake in Superior Energy Services during the first quarter valued at about $105,000. IndexIQ Advisors LLC boosted its stake in Superior Energy Services by 5.3% in the second quarter. IndexIQ Advisors LLC now owns 5,846 shares of the company’s stock valued at $108,000 after buying an additional 293 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Superior Energy Services by 78.4% in the second quarter. LS Investment Advisors LLC now owns 9,095 shares of the company’s stock valued at $167,000 after buying an additional 3,996 shares during the last quarter. Washington Trust Bank boosted its stake in Superior Energy Services by 0.3% in the third quarter. Washington Trust Bank now owns 9,832 shares of the company’s stock valued at $176,000 after buying an additional 32 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Superior Energy Services during the third quarter valued at about $181,000.
Shares of Superior Energy Services (NYSE:SPN) traded down 2.52% during midday trading on Tuesday, hitting $14.70. 1,913,920 shares of the stock were exchanged. The stock’s market capitalization is $2.23 billion. Superior Energy Services has a 1-year low of $8.25 and a 1-year high of $19.83. The firm’s 50 day moving average is $16.12 and its 200-day moving average is $16.87.
Superior Energy Services (NYSE:SPN) last posted its quarterly earnings results on Monday, October 24th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.57) by $0.16. Superior Energy Services had a negative net margin of 55.65% and a negative return on equity of 17.51%. The company earned $326.23 million during the quarter, compared to the consensus estimate of $356.73 million. During the same period last year, the firm posted ($0.46) earnings per share. The company’s revenue for the quarter was down 45.8% on a year-over-year basis. On average, analysts predict that Superior Energy Services will post ($2.50) EPS for the current year.
Superior Energy Services Company Profile
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