Superior Energy Services (SPN) Releases Earnings Results, Beats Expectations By $0.11 EPS

Superior Energy Services (SPN) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $-0.49 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.11. Analysts had a consensus of $-0.60. The company posted revenue of $413.10 million in the period, compared to analysts expectations of $448.45 million. The company’s revenue was down -55.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.01 EPS.

Many Wall Street Analysts have commented on Superior Energy Services. Company shares were Upgraded by Barclays on Apr 20, 2016 to ” Overweight”, Firm has raised the Price Target to $ 18 from a previous price target of $10 .Superior Energy Services was Downgraded by JP Morgan to ” Neutral” on Apr 15, 2016. Superior Energy Services was Initiated by Nomura to “Neutral” on Apr 8, 2016.

Superior Energy Services opened for trading at $15.67 and hit $16.38 on the upside on Wednesday, eventually ending the session at $15.79, with a gain of 1.87% or 0.29 points. The heightened volatility saw the trading volume jump to 44,61,414 shares. Company has a market cap of $2,391 M.

In a different news, on Feb 27, 2015, A Patrick Bernard (Senior Executive Vice Pres.) sold 37,500 shares at $22.09 per share price. According to the SEC, on Feb 27, 2015, Lynton G Iii Cook (Executive Vice President) sold 28,029 shares at $22.18 per share price. On Feb 25, 2015, Danny R Young (Executive Vice President) sold 37,500 shares at $21.38 per share price, according to the Form-4 filing with the securities and exchange commission.

Superior Energy Services Inc. is engaged in exploration development and production of oil and natural gas. The Company serves national and independent oil and natural gas companies around the world. Its segments include Drilling Products and Services Onshore Completion and Workover Services Production Services and Technical Solutions. The Drilling Products and Services segment includes downhole drilling tools and surface rentals. The Onshore Completion and Workover Services segment includes pressure pumping fluid handling and workover and maintenance services. The Production Services segment includes intervention services and specialized pressure-control tools used for pressure control and intervention operations. The Technical Solutions segment includes products and services that address customer-specific needs with their applications for specialized engineering manufacturing or project planning.

Superior Energy Services

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