Zacks: Brokerages Anticipate Superior Energy Services, Inc. (NYSE:SPN) Will Post Quarterly Sales of $415.03 Million

Wall Street analysts expect Superior Energy Services, Inc. (NYSE:SPN) to post $415.03 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Superior Energy Services’ earnings, with the highest sales estimate coming in at $419.85 million and the lowest estimate coming in at $410.00 million. Superior Energy Services posted sales of $573.07 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 27.6%. The company is scheduled to report its next earnings report on Monday, October 28th.

On average, analysts expect that Superior Energy Services will report full year sales of $1.73 billion for the current year, with estimates ranging from $1.71 billion to $1.75 billion. For the next year, analysts forecast that the firm will post sales of $1.76 billion, with estimates ranging from $1.68 billion to $1.99 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Superior Energy Services.

Superior Energy Services (NYSE:SPN) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.06). The firm had revenue of $436.32 million during the quarter, compared to analyst estimates of $466.52 million. Superior Energy Services had a negative net margin of 44.19% and a negative return on equity of 33.30%. During the same quarter last year, the company earned ($0.16) EPS.

A number of equities research analysts have recently issued reports on SPN shares. Zacks Investment Research lowered Superior Energy Services from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Barclays lowered Superior Energy Services from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $5.00 to $2.00 in a research report on Monday, May 20th. ValuEngine raised Superior Energy Services from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Raymond James set a $8.00 target price on Superior Energy Services and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Wolfe Research raised Superior Energy Services from an “underperform” rating to an “outperform” rating and set a $4.00 target price on the stock in a research report on Tuesday, June 4th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $5.53.

Shares of Superior Energy Services stock traded up $0.03 during trading on Friday, hitting $0.63. The stock had a trading volume of 35,491 shares, compared to its average volume of 3,553,232. The company has a debt-to-equity ratio of 7.56, a quick ratio of 2.07 and a current ratio of 2.48. The stock has a market capitalization of $84.96 million, a price-to-earnings ratio of -0.69 and a beta of 2.29. The firm’s fifty day simple moving average is $1.07. Superior Energy Services has a fifty-two week low of $0.54 and a fifty-two week high of $11.14.

In other Superior Energy Services news, Director James M. Funk purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $0.83 per share, with a total value of $41,500.00. Following the completion of the transaction, the director now owns 82,179 shares of the company’s stock, valued at $68,208.57. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.02% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Ahrens Investment Partners LLC raised its stake in shares of Superior Energy Services by 98.5% in the 2nd quarter. Ahrens Investment Partners LLC now owns 34,960 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 17,350 shares during the period. Advisory Services Network LLC raised its stake in shares of Superior Energy Services by 8,975.2% in the 2nd quarter. Advisory Services Network LLC now owns 44,650 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 44,158 shares during the period. Performa Ltd US LLC raised its stake in shares of Superior Energy Services by 1,767.6% in the 2nd quarter. Performa Ltd US LLC now owns 63,500 shares of the oil and gas company’s stock valued at $83,000 after purchasing an additional 60,100 shares during the period. KBC Group NV acquired a new stake in shares of Superior Energy Services in the 2nd quarter valued at about $173,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of Superior Energy Services by 30.0% in the second quarter. BNP Paribas Arbitrage SA now owns 204,771 shares of the oil and gas company’s stock valued at $266,000 after acquiring an additional 47,297 shares during the last quarter. 97.69% of the stock is currently owned by hedge funds and other institutional investors.

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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