Gabelli Equities Analysts Lower Earnings Estimates for Superior Energy Services, Inc. (SPN)
Superior Energy Services, Inc. (NYSE:SPN) – Investment analysts at Gabelli cut their FY2017 earnings per share estimates for shares of Superior Energy Services in a report issued on Wednesday. Gabelli analyst S. Wong now forecasts that the oil and gas company will post earnings of ($1.65) per share for the year, down from their prior estimate of ($1.50). Gabelli also issued estimates for Superior Energy Services’ FY2018 earnings at ($0.65) EPS and FY2019 earnings at $0.05 EPS.
Several other research analysts have also issued reports on SPN. BidaskClub upgraded shares of Superior Energy Services from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Barclays PLC lowered shares of Superior Energy Services from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $18.00 to $11.00 in a report on Wednesday, July 12th. Jefferies Group LLC restated a “hold” rating and set a $14.00 price target on shares of Superior Energy Services in a report on Friday, July 14th. Piper Jaffray Companies set a $15.00 price target on shares of Superior Energy Services and gave the stock a “buy” rating in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada set a $14.00 price target on shares of Superior Energy Services and gave the stock a “hold” rating in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. Superior Energy Services currently has an average rating of “Hold” and an average price target of $13.82.
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Superior Energy Services (SPN) opened at 8.82 on Monday. The company’s market capitalization is $1.35 billion. Superior Energy Services has a 52 week low of $7.66 and a 52 week high of $19.28. The firm has a 50 day moving average of $9.82 and a 200-day moving average of $10.31.
Superior Energy Services (NYSE:SPN) last announced its earnings results on Monday, October 23rd. The oil and gas company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.01). Superior Energy Services had a negative return on equity of 26.18% and a negative net margin of 24.59%. The company had revenue of $506.00 million during the quarter, compared to the consensus estimate of $511.23 million. During the same period in the prior year, the firm posted ($0.73) earnings per share. The company’s revenue was up 55.1% on a year-over-year basis.
In related news, Director Peter D. Kinnear purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were bought at an average cost of $8.52 per share, with a total value of $170,400.00. Following the acquisition, the director now owns 64,607 shares of the company’s stock, valued at $550,451.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.91% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the stock. Contrarius Investment Management Ltd bought a new stake in Superior Energy Services in the 2nd quarter valued at about $3,279,000. Pzena Investment Management LLC raised its stake in Superior Energy Services by 1.2% in the 2nd quarter. Pzena Investment Management LLC now owns 3,998,348 shares of the oil and gas company’s stock valued at $41,703,000 after acquiring an additional 48,531 shares during the period. Mitchell Group Inc. raised its stake in Superior Energy Services by 17.7% in the 2nd quarter. Mitchell Group Inc. now owns 2,534,080 shares of the oil and gas company’s stock valued at $26,430,000 after acquiring an additional 381,150 shares during the period. Rhumbline Advisers raised its stake in Superior Energy Services by 14.6% in the 2nd quarter. Rhumbline Advisers now owns 322,557 shares of the oil and gas company’s stock valued at $3,364,000 after acquiring an additional 41,064 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Superior Energy Services by 43.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,431,065 shares of the oil and gas company’s stock valued at $35,786,000 after acquiring an additional 1,046,072 shares during the period.
Superior Energy Services Company Profile
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