Calfrac Well Services (TSE:CFW) Shares Down 7.9%

Shares of Calfrac Well Services Ltd. (TSE:CFW) traded down 7.9% during trading on Friday . The stock traded as low as C$3.31 and last traded at C$3.38. 164,368 shares traded hands during mid-day trading, an increase of 79% from the average session volume of 92,048 shares. The stock had previously closed at C$3.67.

Several analysts recently commented on the stock. Raymond James reduced their price target on shares of Calfrac Well Services from C$5.85 to C$4.50 and set a “na” rating for the company in a research report on Monday. BMO Capital Markets lowered their price target on shares of Calfrac Well Services from C$4.50 to C$3.75 in a research note on Friday, April 30th. Finally, Royal Bank of Canada upped their price target on shares of Calfrac Well Services to C$5.00 and gave the stock a “na” rating in a research note on Monday, February 22nd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of C$3.38.

The stock’s 50 day moving average is C$3.52. The company has a current ratio of 2.29, a quick ratio of 1.53 and a debt-to-equity ratio of 94.58. The company has a market cap of C$125.41 million and a price-to-earnings ratio of -0.20.

Calfrac Well Services (TSE:CFW) last released its quarterly earnings data on Thursday, April 29th. The company reported C($0.60) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.20) by C($0.40). The company had revenue of C$241.58 million during the quarter, compared to the consensus estimate of C$224.80 million. As a group, analysts expect that Calfrac Well Services Ltd. will post -0.24 earnings per share for the current fiscal year.

About Calfrac Well Services (TSE:CFW)

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

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