Gabelli Comments on Superior Energy Services, Inc.’s FY2020 Earnings (SPN)

Superior Energy Services, Inc. (NYSE:SPN) – Equities research analysts at Gabelli cut their FY2020 earnings per share estimates for shares of Superior Energy Services in a report released on Wednesday, October 24th. Gabelli analyst S. Wong now anticipates that the oil and gas company will post earnings per share of $0.15 for the year, down from their prior estimate of $0.20.

Superior Energy Services (NYSE:SPN) last posted its quarterly earnings data on Monday, October 22nd. The oil and gas company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.02). Superior Energy Services had a negative net margin of 4.76% and a negative return on equity of 13.90%. The company had revenue of $573.07 million for the quarter, compared to the consensus estimate of $563.47 million. During the same quarter last year, the company earned ($0.33) earnings per share. The company’s revenue was up 13.2% compared to the same quarter last year.



A number of other brokerages have also recently weighed in on SPN. BMO Capital Markets dropped their target price on shares of Superior Energy Services from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday. Stifel Nicolaus initiated coverage on shares of Superior Energy Services in a report on Monday, September 10th. They set a “hold” rating and a $9.00 target price on the stock. Credit Suisse Group dropped their target price on shares of Superior Energy Services from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, July 26th. Bank of America initiated coverage on shares of Superior Energy Services in a report on Wednesday, October 17th. They set a “neutral” rating on the stock. Finally, Capital One Financial reissued an “overweight” rating on shares of Superior Energy Services in a report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Superior Energy Services currently has an average rating of “Hold” and a consensus target price of $11.76.

Shares of NYSE:SPN opened at $8.16 on Thursday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -4.95 and a beta of 2.12. Superior Energy Services has a 1-year low of $7.40 and a 1-year high of $12.73. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.56 and a current ratio of 1.97.

In other news, CFO Westervelt T. Ballard, Jr. acquired 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 24th. The shares were acquired at an average price of $7.68 per share, with a total value of $30,720.00. Following the acquisition, the chief financial officer now directly owns 88,004 shares in the company, valued at $675,870.72. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.81% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in shares of Superior Energy Services by 2.6% in the 2nd quarter. BlackRock Inc. now owns 17,907,503 shares of the oil and gas company’s stock worth $174,419,000 after acquiring an additional 461,372 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Superior Energy Services by 14.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,933,972 shares of the oil and gas company’s stock worth $125,977,000 after acquiring an additional 1,648,465 shares during the period. FMR LLC increased its holdings in shares of Superior Energy Services by 25.3% in the 2nd quarter. FMR LLC now owns 3,536,332 shares of the oil and gas company’s stock worth $34,444,000 after acquiring an additional 713,410 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Superior Energy Services by 128.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,430,284 shares of the oil and gas company’s stock worth $23,671,000 after acquiring an additional 1,366,854 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Superior Energy Services by 0.6% in the 2nd quarter. Northern Trust Corp now owns 2,203,456 shares of the oil and gas company’s stock worth $21,461,000 after acquiring an additional 13,811 shares during the period.

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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Earnings History and Estimates for Superior Energy Services (NYSE:SPN)

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