FY2017 EPS Estimates for Superior Energy Services, Inc. (SPN) Lifted by SunTrust Banks
Superior Energy Services, Inc. (NYSE:SPN) – Equities researchers at SunTrust Banks increased their FY2017 earnings estimates for shares of Superior Energy Services in a research report issued on Monday. SunTrust Banks analyst K. Sill now forecasts that the oil and gas company will post earnings of ($1.65) per share for the year, up from their previous estimate of ($1.69). SunTrust Banks currently has a “Buy” rating and a $20.00 price target on the stock. SunTrust Banks also issued estimates for Superior Energy Services’ Q4 2017 earnings at ($0.32) EPS, Q1 2018 earnings at ($0.28) EPS, Q2 2018 earnings at ($0.21) EPS, Q3 2018 earnings at ($0.16) EPS, Q4 2018 earnings at ($0.12) EPS, FY2018 earnings at ($0.77) EPS, Q1 2019 earnings at ($0.09) EPS, Q2 2019 earnings at ($0.03) EPS, Q3 2019 earnings at $0.03 EPS and FY2019 earnings at ($0.02) EPS.
Several other research analysts have also recently commented on the stock. Scotiabank restated a “buy” rating on shares of Superior Energy Services in a report on Friday, October 27th. Royal Bank Of Canada set a $12.00 target price on shares of Superior Energy Services and gave the stock a “hold” rating in a report on Wednesday, October 25th. Credit Suisse Group reduced their target price on shares of Superior Energy Services from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Wednesday, October 25th. Barclays PLC set a $10.00 target price on shares of Superior Energy Services and gave the stock a “hold” rating in a report on Wednesday, October 25th. Finally, Deutsche Bank AG reduced their target price on shares of Superior Energy Services from $15.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $13.82.
Superior Energy Services (SPN) opened at $9.18 on Thursday. Superior Energy Services has a 1-year low of $7.66 and a 1-year high of $19.28. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.99 and a quick ratio of 1.64.
Superior Energy Services (NYSE:SPN) last issued its quarterly earnings data on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.01). Superior Energy Services had a negative return on equity of 26.18% and a negative net margin of 24.59%. The company had revenue of $506.00 million for the quarter, compared to the consensus estimate of $511.23 million. During the same period in the prior year, the company earned ($0.73) EPS. The firm’s revenue was up 55.1% on a year-over-year basis.
Several hedge funds and other institutional investors have recently bought and sold shares of SPN. Summit Financial Wealth Advisors LLC acquired a new stake in shares of Superior Energy Services during the 3rd quarter worth about $107,000. Suntrust Banks Inc. acquired a new stake in shares of Superior Energy Services during the 2nd quarter worth about $108,000. Nomura Holdings Inc. acquired a new stake in shares of Superior Energy Services during the 2nd quarter worth about $116,000. Oakbrook Investments LLC acquired a new stake in shares of Superior Energy Services during the 2nd quarter worth about $118,000. Finally, Endurance Wealth Management Inc. lifted its stake in shares of Superior Energy Services by 4.9% during the 2nd 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.
In related news, Director Peter D. Kinnear bought 20,000 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was bought at an average price of $8.52 per share, for a total transaction of $170,400.00. Following the purchase, the director now owns 64,607 shares in the company, valued at approximately $550,451.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.91% of the company’s stock.
About Superior Energy Services
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