Wall Street’s forecasts for Superior Energy Services
In the final part of this series, we’ll discuss Wall Street analysts’ forecasts for Superior Energy Services (SPN) stock following its 3Q17 earnings release. On October 31, approximately 48% of analysts tracking Superior Energy Services rated it as a “buy” or some equivalent.
Approximately 52% rated the company as a “hold.” None of the sell-side analysts recommended a “sell” or an equivalent.
Superior Energy Services comprises 2.8% of the SPDR S&P Oil & Gas Equipment & Services ETF (XES). XES has fallen 34.0% year-to-date versus the 48.0% fall in SPN’s stock price during the same period.
In comparison, ~89.0% of the Wall Street analysts tracking Halliburton (HAL) rated it as a “buy” or some equivalent on October 31. Approximately 8.0% rated the company as a “hold,” and 3.0% of the sell-side analysts tracking HAL rated it as a “sell” or an equivalent.
Analysts’ rating changes for SPN
From July 31, 2017, to October 31, 2017, the percentage of analysts recommending a “buy” or some equivalent for SPN has decreased from 50.0% to 48.0%. These analysts’ “hold” recommendations have increased for SPN during the same period. A year ago, ~69.0% of the sell-side analysts recommended a “buy” for SPN.
Analysts’ target prices for SPN
Wall Street analysts’ mean target price on October 31, 2017, was ~$11.70 for Superior Energy Services. SPN is currently trading at ~$5.60, implying an ~111.0% upside at its current price. Analysts’ average target price for SPN was $13.90 a month ago.
Target prices for SPN’s peers
The mean target price, surveyed among the sell-side analysts, for Core Laboratories (CLB) was $111.40 on October 31. CLB is currently trading at ~$95.60, implying a 17.0% upside at its current price.
The mean target price, surveyed among the sell-side analysts, for Key Energy Services (KEG) was $14.00 on October 31. KEG is currently trading at ~$10.10, implying a 38.0% upside at its current price.
You can learn more about the OFS industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.
In 2017, the PetMed Express (PETS) website attracted ~32.0 million visitors, ~8.0% of whom placed an order for a conversion ratio of ~25.0%.
Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.
The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.
Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.
Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.
As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.
Amazon is discontinuing its Amazon Restaurants service, which has been delivering food for restaurants in parts of the United States. Amazon Restaurants launched in the United States in 2015 and entered the British market the following year. However, it met strong opposition in the British market.