Zacks: Brokerages Expect Superior Energy Services, Inc. (SPN) Will Post Quarterly Sales of $499.63 Million
Equities analysts predict that Superior Energy Services, Inc. (NYSE:SPN) will report sales of $499.63 million for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Superior Energy Services’ earnings. The lowest sales estimate is $446.89 million and the highest is $553.17 million. Superior Energy Services reported sales of $400.94 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 24.6%. The company is scheduled to report its next earnings report on Tuesday, April 24th.
According to Zacks, analysts expect that Superior Energy Services will report full year sales of $499.63 million for the current fiscal year, with estimates ranging from $2.08 billion to $2.62 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.50 billion per share, with estimates ranging from $2.22 billion to $2.83 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Superior Energy Services.
Superior Energy Services (NYSE:SPN) last posted its quarterly earnings results on Monday, February 19th. The oil and gas company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). Superior Energy Services had a negative return on equity of 21.92% and a negative net margin of 10.99%. The business had revenue of $497.00 million for the quarter, compared to the consensus estimate of $509.27 million. During the same quarter in the previous year, the business posted ($0.74) EPS. The company’s revenue for the quarter was up 40.2% on a year-over-year basis.
A number of institutional investors and hedge funds have recently made changes to their positions in SPN. Voya Investment Management LLC raised its position in Superior Energy Services by 48.9% during the second quarter. Voya Investment Management LLC now owns 68,375 shares of the oil and gas company’s stock valued at $713,000 after purchasing an additional 22,455 shares in the last quarter. State Street Corp raised its position in Superior Energy Services by 29.5% during the second quarter. State Street Corp now owns 5,866,537 shares of the oil and gas company’s stock valued at $61,185,000 after purchasing an additional 1,335,740 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Superior Energy Services by 53.9% during the second quarter. The Manufacturers Life Insurance Company now owns 339,603 shares of the oil and gas company’s stock valued at $3,543,000 after purchasing an additional 118,972 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Superior Energy Services by 21.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 25,878 shares of the oil and gas company’s stock valued at $270,000 after purchasing an additional 4,598 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in Superior Energy Services by 1.7% during the second quarter. Lord Abbett & CO. LLC now owns 408,500 shares of the oil and gas company’s stock valued at $4,261,000 after purchasing an additional 6,800 shares in the last quarter. Institutional investors and hedge funds own 98.98% of the company’s stock.
Superior Energy Services (NYSE:SPN) traded up $0.07 during trading on Tuesday, reaching $8.63. The company had a trading volume of 3,940,000 shares, compared to its average volume of 4,020,000. Superior Energy Services has a fifty-two week low of $7.66 and a fifty-two week high of $16.88. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.03 and a quick ratio of 1.67. The company has a market capitalization of $1,320.00, a PE ratio of -5.02 and a beta of 2.12.
About Superior Energy Services
Superior Energy Services, Inc provides a range of services and products to the energy industry related to the exploration, development and production of oil and natural gas. The Company’s segments include Drilling Products and Services, which rents and sells bottom hole assemblies, drill pipe, tubulars and specialized equipment for use with onshore and offshore oil and gas well drilling, production and workover activities; Onshore Completion and Workover Services, which provides pressure pumping services used to complete and stimulate production in new oil and gas wells, fluid handling services and well servicing rigs that provide a range of well completion and maintenance services; Production Services, which provides intervention services, such as coiled tubing, cased hole and mechanical wireline, hydraulic workover and snubbing, and remedial pumping services, and Technical Solutions, which provides services requiring specialized engineering, manufacturing or project planning.
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