AltaCorp Capital Lowers Calfrac Well Services (TSE:CFW) to Underperform

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AltaCorp Capital downgraded shares of Calfrac Well Services (TSE:CFW) from a sector perform rating to an underperform rating in a research note published on Monday, Zacks.com reports.

Several other research firms have also recently issued reports on CFW. Raymond James reaffirmed a buy rating and set a $21.00 price target on shares of Colfax in a research note on Thursday, May 2nd. National Bank Financial cut shares of Calfrac Well Services from an outperform market weight rating to a sector perform overweight rating in a research note on Wednesday, May 1st. TD Securities decreased their price target on shares of WPX Energy from $19.00 to $18.50 and set a buy rating on the stock in a research note on Thursday, May 2nd. Canaccord Genuity decreased their price target on shares of Trican Well Service from C$1.70 to C$1.55 in a research note on Wednesday, May 29th. Finally, CIBC decreased their price target on shares of WestJet Airlines from C$22.00 to C$21.00 in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of C$5.00.

Shares of TSE CFW opened at C$2.12 on Monday. The firm has a market cap of $302.19 million and a PE ratio of -5.25. Calfrac Well Services has a 52 week low of C$1.69 and a 52 week high of C$5.95. The company has a 50-day simple moving average of C$2.06. The company has a debt-to-equity ratio of 205.83, a quick ratio of 1.48 and a current ratio of 2.10.

Calfrac Well Services (TSE:CFW) last released its quarterly earnings results on Wednesday, May 1st. The company reported C($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.05) by C($0.19). The business had revenue of C$475.01 million for the quarter, compared to the consensus estimate of C$493.33 million. On average, analysts predict that Calfrac Well Services will post 0.05 earnings per share for the current year.

Calfrac Well Services Company Profile

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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