RBC Capital Downgrades Superior Energy Services to Sector Perform (SPN)
Superior Energy Services (NYSE:SPN) was downgraded by equities researchers at RBC Capital to a “sector perform” rating in a research report issued on Tuesday, AnalystRatings.NET reports.
SPN has been the subject of a number of other recent research reports. 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. Separately, analysts at Jefferies Group cut their price target on shares of Superior Energy Services from $33.00 to $32.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of Superior Energy Services from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, October 8th. They now have a $25.90 price target on the stock. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $31.91.
Superior Energy Services (NYSE:SPN) opened at 25.81 on Tuesday. Superior Energy Services has a one year low of $18.00 and a one year 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 $4.118 billion and a price-to-earnings ratio of 13.65. Superior Energy Services also was the recipient of some unusual options trading on Monday. Traders purchased 6,793 put options on the company. This is an increase of 748% compared to the average daily 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 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.83 earnings per share. Superior Energy Services’s revenue was down 6.7% compared to the same quarter last year. On average, analysts predict that Superior Energy Services will post $1.82 earnings per share for the current fiscal year.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.