Superior Energy Services (NYSE:SPN) Issues Earnings Results

Superior Energy Services (NYSE:SPN) released its earnings results on Thursday. The oil and gas company reported ($0.78) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.03) by $0.25, MarketWatch Earnings reports. The company had revenue of $321.50 million for the quarter, compared to analyst estimates of $320.60 million. Superior Energy Services had a negative net margin of 18.92% and a negative return on equity of 109.37%.

SPN opened at $0.99 on Friday. The firm has a 50 day moving average price of $1.45 and a 200 day moving average price of $2.38. Superior Energy Services has a 1 year low of $0.76 and a 1 year high of $6.07. The company has a debt-to-equity ratio of 27.21, a current ratio of 3.52 and a quick ratio of 2.68.

A number of research analysts have issued reports on SPN shares. Royal Bank of Canada lowered shares of Superior Energy Services from a “sector perform” rating to an “underperform” rating and reduced their target price for the company from $1.75 to $1.00 in a report on Friday. Wolfe Research lowered shares of Superior Energy Services from an “outperform” rating to an “underperform” rating in a report on Thursday, March 19th. Morgan Stanley cut their price objective on shares of Superior Energy Services from $5.00 to $1.50 and set an “underweight” rating on the stock in a report on Monday, March 16th. Finally, Zacks Investment Research lowered shares of Superior Energy Services from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $1.60.

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 for Superior Energy Services (NYSE:SPN)

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