Superior Energy Services Price Target Cut to $42.00 by Analysts at Barclays (SPN)
Equities research analysts at Barclays decreased their price objective on shares of Superior Energy Services (NYSE:SPN) from $48.00 to $42.00 in a research note issued to investors on Tuesday, StockRatingsNetwork reports. The firm currently has an “overweight” rating on the stock. Barclays’ price objective would suggest a potential upside of 66.14% from the company’s current price.
SPN has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, 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. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $30.92.
Superior Energy Services (NYSE:SPN) traded down 2.05% on Tuesday, hitting $25.28. 2,942,006 shares of the company’s stock traded hands. 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 price-to-earnings ratio of 13.65. Superior Energy Services also was the recipient of unusually large options trading activity on Monday. Traders acquired 6,793 put options on the stock. This is an increase of 748% compared to the average volume of 801 put options.
Superior Energy Services (NYSE:SPN) last released its earnings data 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. Analysts expect that Superior Energy Services will post $1.77 EPS 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.
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