Superior Energy Services (SPN) Releases Quarterly Earnings Results
Superior Energy Services (NYSE:SPN) announced its earnings results on Thursday. The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.06, ARN reports. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company posted $0.40 earnings per share. Superior Energy Services’s revenue was down 2.3% compared to the same quarter last year.
Shares of Superior Energy Services (NYSE:SPN) traded down 0.55% during mid-day trading on Thursday, hitting $32.54. The stock had a trading volume of 2,487,412 shares. Superior Energy Services has a one year low of $22.85 and a one year high of $32.91. The stock’s 50-day moving average is $30.01 and its 200-day moving average is $27.06. The company’s market cap is $5.161 billion.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, May 21st. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Monday, April 28th.
A number of research firms have recently commented on SPN. Analysts at Barclays raised their price target on shares of Superior Energy Services from $37.00 to $42.00 in a research note on Wednesday, April 16th. They now have an “overweight” rating on the stock. On the ratings front, analysts at Morgan Stanley downgraded shares of Superior Energy Services from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 16th. They now have a $32.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of Superior Energy Services from $31.00 to $33.00 in a research note on Wednesday, April 9th. They now have a “sector perform” rating on the stock. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $33.09.
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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