Calfrac Well Services (TSE:CFW) Lowered to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada cut shares of Calfrac Well Services (TSE:CFW) from an outperform rating to a sector perform rating in a research report sent to investors on Monday, BayStreet.CA reports. They currently have C$1.75 price target on the stock, down from their prior price target of C$5.50.

A number of other brokerages have also recently weighed in on CFW. TD Securities dropped their price target 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 report on Wednesday, September 4th. BMO Capital Markets dropped their price target on shares of Calfrac Well Services from C$5.00 to C$2.00 in a research report on Friday, August 2nd. AltaCorp Capital cut shares of Calfrac Well Services from a sector perform rating to an underperform rating in a research report on Monday, July 8th. National Bank Financial dropped their price target on shares of Calfrac Well Services from C$2.25 to C$1.75 and set a sector perform rating for the company in a research report on Thursday, August 15th. Finally, Raymond James cut shares of Calfrac Well Services from a strong-buy rating to an outperform rating and dropped their price target for the company from C$7.50 to C$4.00 in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Calfrac Well Services presently has a consensus rating of Hold and an average price target of C$3.10.

CFW stock traded up C$0.03 during trading on Monday, reaching C$1.30. 11,458 shares of the stock were exchanged, compared to its average volume of 294,555. The company has a current ratio of 2.43, a quick ratio of 1.62 and a debt-to-equity ratio of 226.98. The business has a 50 day moving average price of C$1.51 and a 200-day moving average price of C$2.12. Calfrac Well Services has a 1 year low of C$1.22 and a 1 year high of C$4.82. The firm has a market capitalization of $185.17 million and a price-to-earnings ratio of -2.78.

Calfrac Well Services (TSE:CFW) last announced its quarterly earnings results on Thursday, August 1st. The company reported C($0.29) earnings per share for the quarter, missing analysts’ consensus estimates 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. On average, research analysts anticipate that Calfrac Well Services will post -0.43 EPS 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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