Brokerages Expect Superior Energy Services, Inc. (SPN) Will Announce Quarterly Sales of $485.95 Million

Equities research analysts expect Superior Energy Services, Inc. (NYSE:SPN) to announce sales of $485.95 million for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Superior Energy Services’ earnings. The highest sales estimate is $513.00 million and the lowest is $470.00 million. Superior Energy Services reported sales of $482.32 million during the same quarter last year, which would suggest a positive year over year growth rate of 0.8%. The business is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, April 23rd.

According to Zacks, analysts expect that Superior Energy Services will report full year sales of $2.03 billion for the current financial year, with estimates ranging from $1.95 billion to $2.12 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.22 billion, with estimates ranging from $2.04 billion to $2.38 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Superior Energy Services.

Superior Energy Services (NYSE:SPN) last released its quarterly earnings results on Monday, February 18th. The oil and gas company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.08. The company had revenue of $539.33 million for the quarter, compared to analyst estimates of $514.64 million. Superior Energy Services had a negative return on equity of 15.11% and a negative net margin of 40.28%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.33) earnings per share.

A number of research analysts have recently issued reports on the company. Raymond James lowered Superior Energy Services from a “strong-buy” rating to a “market perform” rating in a report on Thursday, December 13th. Zacks Investment Research raised Superior Energy Services from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. Piper Jaffray Companies set a $8.00 target price on Superior Energy Services and gave the company a “buy” rating in a report on Tuesday, February 19th. Wells Fargo & Co lowered Superior Energy Services from an “outperform” rating to a “market perform” rating in a report on Monday, January 7th. Finally, ValuEngine raised Superior Energy Services from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.48.

SPN opened at $5.00 on Friday. The company has a market cap of $778.10 million, a price-to-earnings ratio of -5.56 and a beta of 2.35. Superior Energy Services has a 52 week low of $2.87 and a 52 week high of $12.73. The company has a current ratio of 2.13, a quick ratio of 1.80 and a debt-to-equity ratio of 4.41.

In other Superior Energy Services news, Director James M. Funk purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were purchased at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the purchase, the director now directly owns 32,179 shares in the company, valued at $138,047.91. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.81% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of Superior Energy Services by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 1,595,329 shares of the oil and gas company’s stock valued at $5,344,000 after buying an additional 70,168 shares in the last quarter. Norges Bank purchased a new stake in shares of Superior Energy Services in the fourth quarter valued at approximately $4,970,000. CWM Advisors LLC boosted its stake in shares of Superior Energy Services by 116.8% in the fourth quarter. CWM Advisors LLC now owns 24,818 shares of the oil and gas company’s stock valued at $83,000 after buying an additional 13,371 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Superior Energy Services by 2.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 211,593 shares of the oil and gas company’s stock valued at $709,000 after buying an additional 4,509 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Superior Energy Services by 86.9% during the fourth quarter. Legal & General Group Plc now owns 456,017 shares of the oil and gas company’s stock worth $1,520,000 after purchasing an additional 211,965 shares in the last quarter.

Superior Energy Services Company Profile

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.

See Also: Blockchain

Get a free copy of the Zacks research report on Superior Energy Services (SPN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Superior Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Superior Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.