$517.87 Million in Sales Expected for Superior Energy Services, Inc. (SPN) This Quarter

Analysts expect that Superior Energy Services, Inc. (NYSE:SPN) will report $517.87 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Superior Energy Services’ earnings, with the highest sales estimate coming in at $528.10 million and the lowest estimate coming in at $508.53 million. Superior Energy Services posted sales of $326.23 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 58.7%. The company is scheduled to report its next earnings report on Monday, October 23rd.

On average, analysts expect that Superior Energy Services will report full-year sales of $517.87 million for the current financial year, with estimates ranging from $1.90 billion to $1.98 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.35 billion per share, with estimates ranging from $2.09 billion to $2.75 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Superior Energy Services.

Superior Energy Services (NYSE:SPN) last posted its quarterly earnings results on Tuesday, July 25th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.07. The business had revenue of $470.07 million for the quarter, compared to analysts’ expectations of $465.75 million. Superior Energy Services had a negative return on equity of 28.82% and a negative net margin of 31.24%. The firm’s quarterly revenue was up 31.9% compared to the same quarter last year. During the same quarter last year, the business earned ($3.09) earnings per share.

A number of equities research analysts recently weighed in on SPN shares. Loop Capital restated a “buy” rating on shares of Superior Energy Services in a research report on Monday, July 3rd. Piper Jaffray Companies set a $15.00 price target on Superior Energy Services and gave the company a “buy” rating in a research report on Tuesday, July 25th. Deutsche Bank AG reiterated a “buy” rating and issued a $15.00 price target (down previously from $22.00) on shares of Superior Energy Services in a research report on Thursday, July 27th. Scotiabank set a $22.00 price target on Superior Energy Services and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $14.00 price target (down previously from $30.00) on shares of Superior Energy Services in a research report on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.33.

Superior Energy Services (NYSE SPN) opened at 10.33 on Tuesday. The company’s market cap is $1.58 billion. Superior Energy Services has a 12-month low of $7.91 and a 12-month high of $19.39. The company has a 50-day moving average price of $9.18 and a 200 day moving average price of $11.28.

A number of hedge funds have recently bought and sold shares of SPN. Suntrust Banks Inc. acquired a new position in Superior Energy Services during the 2nd quarter worth approximately $108,000. Washington Trust Bank raised its stake in Superior Energy Services by 10.1% during the 2nd quarter. Washington Trust Bank now owns 10,800 shares of the oil and gas company’s stock worth $113,000 after buying an additional 990 shares during the period. Nomura Holdings Inc. acquired a new position in Superior Energy Services during the 2nd quarter worth approximately $116,000. Oakbrook Investments LLC acquired a new position in Superior Energy Services during the 2nd quarter worth approximately $118,000. Finally, Endurance Wealth Management Inc. raised its stake in Superior Energy Services by 4.9% during the 2nd quarter. Endurance Wealth Management Inc. now owns 11,565 shares of the oil and gas company’s stock worth $121,000 after buying an additional 539 shares during the period.

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