Jefferies Group Equities Analysts Lower Earnings Estimates for Superior Energy Services, Inc. (NYSE:SPN)

Superior Energy Services, Inc. (NYSE:SPN) – Investment analysts at Jefferies Group dropped their FY2020 earnings per share (EPS) estimates for shares of Superior Energy Services in a report released on Wednesday, according to Zacks Investment Research. Jefferies Group analyst B. Handler now anticipates that the oil and gas company will post earnings per share of $1.15 for the year, down from their previous estimate of $1.25. Jefferies Group has a “Hold” rating and a $11.00 price objective on the stock.

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). The business had revenue of $506.00 million for the quarter, compared to the consensus estimate of $511.23 million. Superior Energy Services had a negative net margin of 24.59% and a negative return on equity of 26.18%. The company’s quarterly revenue was up 55.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.73) EPS.

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Other research analysts have also recently issued research reports about the company. Piper Jaffray Companies set a $12.00 price objective on Superior Energy Services and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Cowen and Company set a $14.00 price objective on Superior Energy Services and gave the stock a “buy” rating in a research note on Friday, October 6th. Deutsche Bank AG reissued a “buy” rating and issued a $15.00 price objective (down previously from $22.00) on shares of Superior Energy Services in a research note on Thursday, July 27th. Scotiabank set a $22.00 price objective on Superior Energy Services and gave the stock a “buy” rating in a research note on Thursday, July 27th. Finally, Loop Capital set a $13.00 price objective on Superior Energy Services and gave the stock a “buy” rating in a research note on Wednesday, October 25th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. Superior Energy Services has a consensus rating of “Hold” and an average target price of $13.82.

Superior Energy Services (NYSE SPN) opened at $9.45 on Thursday. Superior Energy Services has a 52 week low of $7.66 and a 52 week high of $19.28. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.64 and a current ratio of 1.99.

Several institutional investors and hedge funds have recently modified their holdings of SPN. BlackRock Inc. lifted its holdings in shares of Superior Energy Services by 10,301.4% during the 1st quarter. BlackRock Inc. now owns 23,424,814 shares of the oil and gas company’s stock valued at $334,036,000 after purchasing an additional 23,199,606 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Superior Energy Services by 221.9% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 4,285,600 shares of the oil and gas company’s stock valued at $44,699,000 after purchasing an additional 2,954,100 shares during the last quarter. Balyasny Asset Management LLC lifted its holdings in shares of Superior Energy Services by 535.0% during the 2nd quarter. Balyasny Asset Management LLC now owns 3,008,663 shares of the oil and gas company’s stock valued at $31,380,000 after purchasing an additional 2,534,833 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Superior Energy Services by 33.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,272,972 shares of the oil and gas company’s stock valued at $86,287,000 after purchasing an additional 2,095,988 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Superior Energy Services by 20.7% during the 2nd quarter. Victory Capital Management Inc. now owns 11,290,645 shares of the oil and gas company’s stock valued at $117,761,000 after purchasing an additional 1,933,360 shares during the last quarter.

In other Superior Energy Services news, Director Peter D. Kinnear acquired 20,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was purchased at an average price of $8.52 per share, for a total transaction of $170,400.00. Following the acquisition, the director now owns 64,607 shares in the company, valued at approximately $550,451.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.91% of the company’s stock.

Superior Energy Services Company Profile

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

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