Calfrac Well Services Ltd (TSE:CFW) – Investment analysts at Piper Jaffray Companies upped their FY2019 earnings per share estimates for Calfrac Well Services in a research report issued on Sunday, November 10th. Piper Jaffray Companies analyst J. Daniel now expects that the company will post earnings of ($1.05) per share for the year, up from their previous estimate of ($1.10). Piper Jaffray Companies also issued estimates for Calfrac Well Services’ Q4 2019 earnings at ($0.29) EPS, Q1 2020 earnings at ($0.22) EPS, Q3 2020 earnings at ($0.19) EPS, Q4 2020 earnings at ($0.23) EPS, FY2020 earnings at ($0.85) EPS, Q1 2021 earnings at ($0.19) EPS, Q2 2021 earnings at ($0.18) EPS, Q3 2021 earnings at ($0.13) EPS and FY2021 earnings at ($0.67) EPS.
Other equities research analysts also recently issued reports about the company. CIBC cut their price target on Calfrac Well Services from C$3.25 to C$2.25 in a research note on Tuesday, October 15th. National Bank Financial cut their price target on Calfrac Well Services from C$2.25 to C$1.75 and set a “sector perform” rating for the company in a research note on Thursday, August 15th. TD Securities downgraded Calfrac Well Services from a “hold” rating to a “reduce” rating and cut their price target for the company from C$1.50 to C$0.50 in a research note on Friday, November 1st. Evercore cut their price target on Calfrac Well Services from C$3.00 to C$1.00 in a research note on Monday, November 4th. Finally, Raymond James restated a “market perform” rating and set a C$1.00 price target on shares of Calfrac Well Services in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of C$1.99.
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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