Superior Energy Services, Inc. (SPN) Expected to Post Earnings of -$0.22 Per Share

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Brokerages predict that Superior Energy Services, Inc. (NYSE:SPN) will report earnings per share of ($0.22) for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Superior Energy Services’ earnings. The highest EPS estimate is ($0.19) and the lowest is ($0.26). Superior Energy Services reported earnings per share of ($0.41) in the same quarter last year, which would suggest a positive year-over-year growth rate of 46.3%. The firm is expected to announce its next quarterly earnings results on Tuesday, July 24th.

According to Zacks, analysts expect that Superior Energy Services will report full-year earnings of ($0.77) per share for the current financial year, with EPS estimates ranging from ($0.97) to ($0.52). For the next year, analysts forecast that the business will report earnings of ($0.15) per share, with EPS estimates ranging from ($0.64) to $0.20. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Superior Energy Services.

Superior Energy Services (NYSE:SPN) last released its quarterly earnings results on Tuesday, April 24th. The oil and gas company reported ($0.34) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.01. Superior Energy Services had a negative net margin of 8.90% and a negative return on equity of 19.29%. The business had revenue of $482.32 million for the quarter, compared to the consensus estimate of $494.41 million. During the same period last year, the firm earned ($0.59) earnings per share. The company’s quarterly revenue was up 20.3% on a year-over-year basis.

Several research analysts have weighed in on SPN shares. Seaport Global Securities upgraded shares of Superior Energy Services from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, February 21st. Piper Jaffray Companies restated a “buy” rating and set a $10.25 price objective on shares of Superior Energy Services in a research report on Friday, February 23rd. Deutsche Bank raised their price objective on shares of Superior Energy Services from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Cowen set a $12.00 price objective on shares of Superior Energy Services and gave the company a “buy” rating in a research report on Friday, April 13th. Finally, Barclays raised their price objective on shares of Superior Energy Services from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Friday, April 27th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $13.43.

Superior Energy Services traded down $0.59, hitting $11.23, during trading on Tuesday, according to MarketBeat Ratings. The company’s stock had a trading volume of 2,549,667 shares, compared to its average volume of 2,955,217. The company has a current ratio of 1.86, a quick ratio of 1.48 and a debt-to-equity ratio of 1.19. Superior Energy Services has a one year low of $7.66 and a one year high of $12.73. The company has a market capitalization of $1.73 billion, a PE ratio of -6.81 and a beta of 2.05.

In related news, CEO David D. Dunlap purchased 30,000 shares of Superior Energy Services stock in a transaction on Thursday, April 26th. The shares were bought at an average cost of $10.89 per share, for a total transaction of $326,700.00. Following the acquisition, the chief executive officer now owns 660,414 shares in the company, valued at approximately $7,191,908.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.81% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. boosted its position in Superior Energy Services by 7.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 994,043 shares of the oil and gas company’s stock valued at $9,573,000 after buying an additional 67,058 shares during the period. Fox Run Management L.L.C. raised its stake in shares of Superior Energy Services by 36.3% during the 4th quarter. Fox Run Management L.L.C. now owns 57,250 shares of the oil and gas company’s stock worth $551,000 after acquiring an additional 15,250 shares in the last quarter. Oakbrook Investments LLC bought a new position in shares of Superior Energy Services during the 4th quarter worth approximately $108,000. Cerebellum GP LLC bought a new position in shares of Superior Energy Services during the 4th quarter worth approximately $127,000. Finally, SG Americas Securities LLC grew its position in Superior Energy Services by 71.8% during the 4th quarter. SG Americas Securities LLC now owns 108,040 shares of the oil and gas company’s stock worth $1,040,000 after purchasing an additional 45,150 shares during the last quarter.

About Superior Energy Services

Superior Energy Services, Inc provides oilfield services and equipment to oil and natural gas exploration and production companies in the United States, the Gulf of Mexico, and internationally. The company operates in four segments: Drilling Products and Services, Onshore Completion and Workover Services, Production Services, and Technical Solutions.

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

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