Superior Energy Services Upgraded to Outperform at Zacks (SPN)
Superior Energy Services (NYSE:SPN) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Thursday. The firm currently has a $37.50 price objective on the stock. Zacks‘s target price suggests a potential upside of 8.73% from the stock’s previous close.
SPN has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Superior Energy Services in a research note on Wednesday, July 16th. They now have a $43.00 price target on the stock, up previously from $39.00. Separately, analysts at Global Hunter Securities raised their price target on shares of Superior Energy Services from $32.00 to $38.00 in a research note on Wednesday, July 16th. Finally, analysts at Robert W. Baird initiated coverage on shares of Superior Energy Services in a research note on Tuesday, July 15th. They set an “outperform” rating and a $44.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Superior Energy Services has an average rating of “Hold” and a consensus target price of $37.34.
Shares of Superior Energy Services (NYSE:SPN) traded down 2.26% during mid-day trading on Thursday, hitting $33.71. The stock had a trading volume of 1,830,753 shares. Superior Energy Services has a 52-week low of $22.85 and a 52-week high of $37.05. The stock’s 50-day moving average is $35. and its 200-day moving average is $31.15. The company’s market cap is $5.279 billion.
Superior Energy Services (NYSE:SPN) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.41 by $0.09. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts predict that Superior Energy Services will post $1.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, August 20th. Investors of record on Thursday, July 31st will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Tuesday, July 29th.
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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