Western Energy Services (WRG) Given New C$0.50 Price Target at Canaccord Genuity

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Western Energy Services (TSE:WRG) had its price objective lowered by stock analysts at Canaccord Genuity from C$0.55 to C$0.50 in a note issued to investors on Thursday. Canaccord Genuity’s price target would suggest a potential upside of 2.04% from the company’s previous close.

Several other research firms have also recently weighed in on WRG. CIBC cut Western Energy Services from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from C$2.00 to C$1.15 in a report on Tuesday, October 16th. Cormark restated a “buy” rating and set a C$0.90 price target on shares of Western Energy Services in a report on Friday, November 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Western Energy Services presently has an average rating of “Buy” and an average target price of C$1.03.

Shares of TSE:WRG traded up C$0.01 during midday trading on Thursday, hitting C$0.49. 3,500 shares of the stock were exchanged, compared to its average volume of 58,854. The company has a debt-to-equity ratio of 62.65, a quick ratio of 1.46 and a current ratio of 1.63. Western Energy Services has a 12 month low of C$0.34 and a 12 month high of C$1.43.

Western Energy Services (TSE:WRG) last released its quarterly earnings results on Wednesday, October 24th. The company reported C($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.09) by C($0.02). The firm had revenue of C$58.88 million during the quarter, compared to the consensus estimate of C$57.00 million. On average, research analysts forecast that Western Energy Services will post -0.313263171084765 earnings per share for the current year.

In other news, Director Ronald Mathison purchased 1,314,800 shares of Western Energy Services stock in a transaction dated Monday, November 26th. The shares were bought at an average cost of C$0.51 per share, for a total transaction of C$670,548.00.

Western Energy Services Company Profile

Western Energy Services Corp. operates as an oilfield service company in Canada and the United States. The company operates through Contract Drilling and Production Services segments. The Contract Drilling segment operates drilling rigs and related ancillary equipment. It operates a fleet of 56 drilling rigs, including 50 in Canada and 6 in the United States.

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Analyst Recommendations for Western Energy Services (TSE:WRG)

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