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.

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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.

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