Superior Energy Services, Inc. (SPN) Announces Earnings Results, Misses Estimates By $0.01 EPS
Superior Energy Services, Inc. (NYSE:SPN) released its earnings results on Monday. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.01), Bloomberg Earnings reports. The company had revenue of $506.00 million during the quarter, compared to analysts’ expectations of $511.23 million. Superior Energy Services had a negative net margin of 31.24% and a negative return on equity of 28.82%. The company’s revenue for the quarter was up 55.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.73) earnings per share.
Shares of Superior Energy Services (SPN) traded down 6.33% during trading on Monday, reaching $8.29. The company had a trading volume of 6,478,320 shares. The stock has a 50 day moving average of $10.00 and a 200 day moving average of $10.55. Superior Energy Services has a 52-week low of $7.91 and a 52-week high of $19.28. The stock’s market capitalization is $1.27 billion.
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SPN has been the subject of a number of recent research reports. Deutsche Bank AG reiterated a “buy” rating and issued a $15.00 target price (down from $22.00) on shares of Superior Energy Services in a report on Thursday, July 27th. Piper Jaffray Companies set a $15.00 price target on Superior Energy Services and gave the company a “buy” rating in a research note on Tuesday, July 25th. Loop Capital restated a “buy” rating on shares of Superior Energy Services in a research note on Monday, July 3rd. Scotiabank set a $22.00 price target on Superior Energy Services and gave the company a “buy” rating in a research note on Thursday, July 27th. Finally, Cowen and Company set a $14.00 price target on Superior Energy Services and gave the company a “buy” rating in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $15.72.
About Superior Energy Services
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