Superior Energy Services, Inc. (NYSE:SPN) – Analysts at Capital One Financial Corporation reduced their FY2018 earnings estimates for shares of Superior Energy Services in a research note issued to investors on Wednesday. Capital One Financial Corporation analyst L. Lemoine now forecasts that the oil and gas company will earn ($0.48) per share for the year, down from their prior estimate of ($0.43).

Superior Energy Services (NYSE:SPN) last issued its quarterly earnings data on Tuesday, April 25th. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.02. The firm had revenue of $400.94 million during the quarter, compared to the consensus estimate of $388.26 million. Superior Energy Services had a negative net margin of 62.02% and a negative return on equity of 27.75%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the business posted ($0.49) earnings per share. COPYRIGHT VIOLATION NOTICE: This piece was originally published by American Banking News and is the property of of American Banking News. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/07/21/superior-energy-services-inc-to-post-fy2018-earnings-of-0-48-per-share-capital-one-financial-corporation-forecasts-spn.html.

SPN has been the subject of a number of other reports. Seaport Global Securities downgraded shares of Superior Energy Services from a “buy” rating to a “neutral” rating and reduced their target price for the company from $13.00 to $10.00 in a research report on Wednesday, June 21st. Nomura set a $13.00 target price on shares of Superior Energy Services and gave the company a “hold” rating in a research report on Thursday, April 27th. BidaskClub raised shares of Superior Energy Services from a “sell” rating to a “hold” rating in a research report on Tuesday. Loop Capital reissued a “buy” rating on shares of Superior Energy Services in a research report on Monday, July 3rd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $19.00 target price on shares of Superior Energy Services in a research report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $17.63.

Shares of Superior Energy Services (NYSE SPN) traded down 5.26% during midday trading on Friday, reaching $10.62. 2,345,966 shares of the company’s stock traded hands. Superior Energy Services has a 12 month low of $8.99 and a 12 month high of $19.39. The firm’s market cap is $1.62 billion. The stock has a 50-day moving average price of $10.43 and a 200 day moving average price of $13.72.

In other news, insider David D. Dunlap bought 45,000 shares of the stock in a transaction on Friday, April 28th. The shares were acquired at an average cost of $12.26 per share, for a total transaction of $551,700.00. Following the purchase, the insider now directly owns 530,657 shares of the company’s stock, valued at approximately $6,505,854.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.91% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the company. Independent Portfolio Consultants Inc. bought a new position in shares of Superior Energy Services during the first quarter worth approximately $105,000. Flinton Capital Management LLC raised its position in shares of Superior Energy Services by 9.1% in the first quarter. Flinton Capital Management LLC now owns 8,708 shares of the oil and gas company’s stock worth $124,000 after buying an additional 728 shares during the last quarter. Washington Trust Bank raised its position in shares of Superior Energy Services by 17.7% in the first quarter. Washington Trust Bank now owns 9,810 shares of the oil and gas company’s stock worth $140,000 after buying an additional 1,478 shares during the last quarter. Neuburgh Advisers LLC raised its position in shares of Superior Energy Services by 9.1% in the first quarter. Neuburgh Advisers LLC now owns 10,574 shares of the oil and gas company’s stock worth $151,000 after buying an additional 884 shares during the last quarter. Finally, Endurance Wealth Management Inc. raised its position in shares of Superior Energy Services by 1.0% in the first quarter. Endurance Wealth Management Inc. now owns 11,026 shares of the oil and gas company’s stock worth $158,000 after buying an additional 112 shares during the last quarter.

About Superior Energy Services

Earnings History and Estimates for Superior Energy Services (NYSE:SPN)

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