Superior Energy Services, Inc. (SPN) to Post FY2019 Earnings of $0.10 Per Share, Jefferies Group Forecasts
Superior Energy Services, Inc. (NYSE:SPN) – Stock analysts at Jefferies Group dropped their FY2019 earnings per share (EPS) estimates for Superior Energy Services in a research report issued on Thursday. Jefferies Group analyst B. Handler now expects that the oil and gas company will post earnings of $0.10 per share for the year, down from their previous estimate of $0.15. Jefferies Group currently has a “Hold” rating and a $10.00 target price on the stock.
Other equities research analysts have also recently issued reports about the company. Cowen set a $14.00 price objective on Superior Energy Services and gave the company a “buy” rating in a research report on Friday, October 6th. UBS Group raised Superior Energy Services from a “neutral” rating to a “positive” rating in a research report on Friday. Loop Capital set a $13.00 price objective on Superior Energy Services and gave the company a “buy” rating in a research report on Wednesday, October 25th. They noted that the move was a valuation call. Royal Bank of Canada set a $10.00 price objective on Superior Energy Services and gave the company a “hold” rating in a research report on Thursday, December 21st. Finally, ValuEngine cut Superior Energy Services from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the stock. Superior Energy Services presently has a consensus rating of “Hold” and an average price target of $12.65.
Superior Energy Services (NYSE:SPN) last released its earnings results on Monday, October 23rd. The oil and gas company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). Superior Energy Services had a negative return on equity of 26.18% and a negative net margin of 24.59%. The company had revenue of $506.00 million during the quarter, compared to analysts’ expectations of $511.23 million. During the same period in the prior year, the company posted ($0.73) earnings per share. The company’s revenue was up 55.1% on a year-over-year basis.
In other Superior Energy Services news, Director Peter D. Kinnear bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were bought at an average price of $8.52 per share, with a total value of $170,400.00. Following the purchase, the director now owns 64,607 shares of the company’s stock, valued at $550,451.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.91% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Summit Financial Wealth Advisors LLC purchased a new position in Superior Energy Services during the 3rd quarter valued at approximately $107,000. Suntrust Banks Inc. purchased a new position in Superior Energy Services during the 2nd quarter valued at approximately $108,000. Nomura Holdings Inc. purchased a new position in Superior Energy Services during the 2nd quarter valued at approximately $116,000. Crossmark Global Holdings Inc. purchased a new position in Superior Energy Services during the 3rd quarter valued at approximately $126,000. Finally, PEAK6 Investments L.P. grew its holdings in Superior Energy Services by 149.0% during the 3rd quarter. PEAK6 Investments L.P. now owns 12,704 shares of the oil and gas company’s stock valued at $136,000 after buying an additional 38,640 shares in the last quarter.
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Superior Energy Services Company Profile
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