Zacks Upgrades Superior Energy Services to “Neutral” (SPN)
Superior Energy Services (NYSE:SPN) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued on Tuesday, Analyst Ratings Net reports. The firm currently has a $25.90 price objective on the stock. Zacks‘ price objective would indicate a potential upside of 2.66% from the stock’s previous close.
Superior Energy Services (NYSE:SPN) traded down 1.78% on Tuesday, hitting $24.78. 1,398,942 shares of the company’s stock traded hands. Superior Energy Services has a one year low of $18.00 and a one year high of $29.22. The stock’s 50-day moving average is $25.57 and its 200-day moving average is $26.27. The company has a market cap of $3.954 billion and a P/E ratio of 13.34.
Superior Energy Services (NYSE:SPN) last announced its earnings results on Monday, July 29th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis.
A number of other firms have also recently commented on SPN. Analysts at Credit Suisse cut their price target on shares of Superior Energy Services to $33.00 in a research note to investors on Tuesday, September 24th. They now have an “outperform” rating on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of Superior Energy Services in a research note to investors on Friday, September 6th. They set an “overweight” rating and a $30.00 price target on the stock. Finally, analysts at Global Hunter Securities reiterated a “buy” rating on shares of Superior Energy Services in a research note to investors on Tuesday, September 3rd. They now have a $31.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $31.61.
Superior Energy Services, Inc is a provider of oilfield services and equipment. The Company offers a variety of products and services throughout the life cycle of an oil and gas well.
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