Superior Energy Services Inc. (SPN) Trading Down 4.3%
Superior Energy Services Inc. (NYSE:SPN)’s share price was down 4.3% during mid-day trading on Thursday . The stock traded as low as $15.99 and last traded at $16.11, with a volume of 2,208,906 shares changing hands. The stock had previously closed at $16.83.
Several equities analysts have recently issued reports on SPN shares. Zacks Investment Research lowered Superior Energy Services from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Stephens reiterated a “top pick” rating on shares of Superior Energy Services in a research note on Friday, July 15th. Scotiabank reiterated a “focus stock” rating and issued a $27.00 price target (up previously from $21.00) on shares of Superior Energy Services in a research note on Friday, June 17th. Jefferies Group reiterated a “buy” rating and issued a $21.00 price target on shares of Superior Energy Services in a research note on Wednesday, July 27th. Finally, Citigroup Inc. decreased their price target on Superior Energy Services from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $16.94.
The firm’s market capitalization is $2.47 billion. The stock’s 50-day moving average is $17.09 and its 200-day moving average is $15.53.
Superior Energy Services (NYSE:SPN) last issued its quarterly earnings data on Monday, July 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.05. The business had revenue of $356.30 million for the quarter, compared to the consensus estimate of $367.73 million. The company’s revenue was down 49.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.31) EPS. On average, equities research analysts anticipate that Superior Energy Services Inc. will post ($2.12) EPS for the current year.
An institutional investor recently raised its position in Superior Energy Services stock. Ameriprise Financial Inc. raised its position in shares of Superior Energy Services Inc. (NYSE:SPN) by 39.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,799,844 shares of the company’s stock after buying an additional 1,346,703 shares during the period. Ameriprise Financial Inc. owned about 3.18% of Superior Energy Services worth $64,661,000 as of its most recent filing with the SEC.
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