Analysts Set Calfrac Well Services Ltd (TSE:CFW) Target Price at C$3.53

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Shares of Calfrac Well Services Ltd (TSE:CFW) have earned a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$3.10.

A number of equities analysts have weighed in on the stock. Royal Bank of Canada downgraded shares of Calfrac Well Services from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$5.50 to C$1.75 in a research note on Monday. Raymond James downgraded shares of Calfrac Well Services from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from C$7.50 to C$4.00 in a research note on Friday, August 2nd. CIBC decreased their target price on shares of Calfrac Well Services from C$3.25 to C$2.25 in a research note on Tuesday, October 15th. TD Securities decreased their target price on shares of Calfrac Well Services from C$2.00 to C$1.50 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Finally, Canaccord Genuity decreased their target price on shares of Calfrac Well Services from C$2.20 to C$1.60 in a research note on Friday, August 16th.

Shares of TSE CFW traded down C$0.03 on Monday, reaching C$1.27. 96,951 shares of the company’s stock traded hands, compared to its average volume of 295,972. Calfrac Well Services has a 12 month low of C$1.22 and a 12 month high of C$4.82. The business’s 50 day simple moving average is C$1.51 and its two-hundred day simple moving average is C$2.12. The company has a market cap of $188.07 million and a price-to-earnings ratio of -2.75. The company has a quick ratio of 1.62, a current ratio of 2.43 and a debt-to-equity ratio of 226.98.

Calfrac Well Services (TSE:CFW) last announced its earnings results on Thursday, August 1st. The company reported C($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of C($0.18) by C($0.11). The business had revenue of C$429.64 million for the quarter, compared to analyst estimates of C$443.63 million. Analysts forecast that Calfrac Well Services will post -0.43 earnings per share for the current fiscal year.

About Calfrac Well Services

Calfrac Well Services Ltd., together with its subsidiaries, provides specialized oilfield services in Canada, the United States, the Russian Federation, Mexico, and Argentina. The company offers hydraulic fracturing, coiled tubing, cementing, other well stimulation, and pressure pumping services to oil and natural gas industries.

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Analyst Recommendations for Calfrac Well Services (TSE:CFW)

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