Research analysts at Citigroup (NYSE: C) dropped their target price on shares of Sup Energy Svcs (NYSE: SPN) from $41.00 to $38.00 in a report released on Monday. The firm currently has a “buy” rating on the stock.
The analysts wrote, “SPN defied expectations with a strong quarter both in terms of the financial result (20% EPS beat, 8% EBITDA beat) and recalibrated outlook (guidance upwardly narrowed). We believe that the consensus 2012 EPS will likely settle toward the low end of or below the $3.30-$3.60 guidance range. However, we expect that SPN’s term contract coverage and other mitigating factors will maintain its earnings momentum in the near-term despite widespread U.S. fracturing market concerns.”
Sup Energy Svcs traded up 2.36% on Monday, hitting $26.92. Sup Energy Svcs has a 52-week low of $22.19 and a 52-week high of $42.87. The company has a market cap of $4.242 billion and a price-to-earnings ratio of 14.94.
The company last announced its quarterly results on Thursday, April 26th. It reported $0.71 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.59 EPS by $0.12. The company’s quarterly revenue was up 151.1% on a year-over-year basis. Analysts expect that Sup Energy Svcs will post $0.93 EPS next quarter.
SPN has been the subject of a number of other recent research reports. Analysts at Howard Weil upgraded shares of Sup Energy Svcs from an “outperform” rating to an “outperform” rating in a research note to investors on Monday, April 2nd. They now have a $41.00 price target on the stock. Separately, analysts at Sterne Agee raised their price target on shares of Sup Energy Svcs to $38.00 in a research note to investors on Monday, February 27th. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Sup Energy Svcs in a research note to investors on Monday, February 27th.
Superior Energy Services, Inc. is a diversified provider of specialized oilfield services and equipment.