Cowen and Company Lowers Superior Energy Services Price Target to $32.00 (SPN)
Equities research analysts at Cowen and Company lowered their price target on shares of Superior Energy Services (NYSE:SPN) from $34.00 to $32.00 in a research note issued to investors on Tuesday, Stock Ratings Network reports. Cowen and Company’s price objective suggests a potential upside of 26.58% from the company’s current price.
Superior Energy Services (NYSE:SPN) traded down 2.05% during mid-day trading on Tuesday, hitting $25.28. The stock had a trading volume of 2,942,006 shares. Superior Energy Services has a 52-week low of $18.00 and a 52-week high of $29.22. The stock has a 50-day moving average of $25. and a 200-day moving average of $26.24. The company has a market cap of $4.034 billion and a P/E ratio of 13.65. Superior Energy Services also was the recipient of unusually large options trading on Monday. Stock investors purchased 6,793 put options on the stock. This is an increase of approximately 748% compared to the typical volume of 801 put options.
Superior Energy Services (NYSE:SPN) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.83 earnings per share. The company’s quarterly revenue was down 6.7% on a year-over-year basis. On average, analysts predict that Superior Energy Services will post $1.77 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on SPN. Analysts at Barclays cut their price target on shares of Superior Energy Services from $48.00 to $42.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Separately, analysts at RBC Capital downgraded shares of Superior Energy Services from an “outperform” rating to a “sector perform” rating in a research note to investors on Tuesday. They now have a $27.00 price target on the stock, down previously from $30.00. Finally, analysts at Credit Suisse reiterated a “buy” rating on shares of Superior Energy Services in a research note to investors on Friday. They now have a $33.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $30.92.
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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