Published On: Wed, Sep 7th, 2016

Superior Energy Services Inc. (SPN) Bond Prices Rise 1.5%

An issue of Superior Energy Services Inc. (NYSE:SPN) debt rose 1.5% as a percentage of its face value during trading on Tuesday. The high-yield debt issue has a 7.125% coupon and will mature on December 15, 2021. The bonds in the issue are now trading at $98.00 and were trading at $97.22 one week ago. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.
A number of equities research analysts recently issued reports on SPN shares. Citigroup boosted their price objective on Superior Energy Services from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, July 13th. Jefferies Group restated a “buy” rating and issued a $21.00 price objective (down from $22.00) on shares of Superior Energy Services in a research note on Monday, July 11th. Zacks Investment Research upgraded Superior Energy Services from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Thursday, June 30th. Deutsche Bank AG restated a “buy” rating and issued a $22.00 price objective (up from $20.00) on shares of Superior Energy Services in a research note on Wednesday, June 8th. Finally, Seaport Global Securities restated a “buy” rating on shares of Superior Energy Services in a research note on Friday, August 19th. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $16.94.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/07/superior-energy-services-inc-spn-bond-prices-rise-1-5.html

Superior Energy Services Inc. (NYSE:SPN) opened at 16.83 on Wednesday. The company’s market cap is $2.55 billion. Superior Energy Services Inc. has a one year low of $8.25 and a one year high of $19.83. The company’s 50 day moving average price is $16.89 and its 200-day moving average price is $15.69.
Superior Energy Services (NYSE:SPN) last issued its earnings results on Monday, July 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.05. The business had revenue of $356.30 million for the quarter, compared to the consensus estimate of $367.73 million. The firm’s revenue for the quarter was down 49.9% compared to the same quarter last year. During the same period last year, the business posted ($0.31) EPS. On average, analysts forecast that Superior Energy Services Inc. will post ($2.12) EPS for the current fiscal year.

Receive News & Ratings for Superior Energy Services Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Superior Energy Services Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>