Superior Energy Services’ (SPN) Hold Rating Reaffirmed at Jefferies Group LLC
Jefferies Group LLC reissued their hold rating on shares of Superior Energy Services, Inc. (NYSE:SPN) in a research note published on Monday morning. Jefferies Group LLC currently has a $11.00 price objective on the oil and gas company’s stock. Jefferies Group also issued estimates for Superior Energy Services’ Q3 2017 earnings at ($0.36) EPS, FY2017 earnings at ($1.60) EPS, Q1 2018 earnings at ($0.18) EPS, Q2 2018 earnings at ($0.15) EPS, Q3 2018 earnings at ($0.11) EPS, Q4 2018 earnings at ($0.06) EPS, FY2018 earnings at ($0.50) EPS, FY2019 earnings at $0.30 EPS and FY2020 earnings at $1.25 EPS.
A number of other equities analysts also recently commented on SPN. Piper Jaffray Companies set a $15.00 price objective on Superior Energy Services and gave the stock a buy rating in a research report on Tuesday, July 25th. Loop Capital reissued a buy rating on shares of Superior Energy Services in a research note on Monday, July 3rd. Deutsche Bank AG reaffirmed a buy rating and issued a $15.00 price objective (down from $22.00) on shares of Superior Energy Services in a research note on Thursday, July 27th. Scotiabank set a $22.00 price objective on Superior Energy Services and gave the company a buy rating in a research note on Thursday, July 27th. Finally, Cowen and Company set a $14.00 price objective on Superior Energy Services and gave the company a buy rating in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $15.72.
Shares of Superior Energy Services (NYSE SPN) traded down 0.67% during trading on Monday, reaching $8.84. The company’s stock had a trading volume of 1,380,022 shares. Superior Energy Services has a one year low of $7.91 and a one year high of $19.39. The stock’s market cap is $1.35 billion. The company has a 50-day moving average price of $9.98 and a 200-day moving average price of $10.69.
Superior Energy Services (NYSE:SPN) last issued its quarterly earnings data on Tuesday, July 25th. The oil and gas company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.07. The company had revenue of $470.07 million for the quarter, compared to analyst estimates of $465.75 million. Superior Energy Services had a negative return on equity of 28.82% and a negative net margin of 31.24%. Superior Energy Services’s quarterly revenue was up 31.9% compared to the same quarter last year. During the same period last year, the company earned ($3.09) earnings per share. On average, equities research analysts forecast that Superior Energy Services will post ($1.59) earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Suntrust Banks Inc. acquired a new position in shares of Superior Energy Services during the second quarter valued at approximately $108,000. Washington Trust Bank grew its position in Superior Energy Services by 10.1% in the second quarter. Washington Trust Bank now owns 10,800 shares of the oil and gas company’s stock worth $113,000 after buying an additional 990 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Superior Energy Services in the second quarter worth approximately $116,000. Oakbrook Investments LLC acquired a new position in Superior Energy Services in the second quarter worth approximately $118,000. Finally, Endurance Wealth Management Inc. grew its position in Superior Energy Services by 4.9% in the second quarter. Endurance Wealth Management Inc. now owns 11,565 shares of the oil and gas company’s stock worth $121,000 after buying an additional 539 shares during the last quarter.
About Superior Energy Services
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