Calfrac Well Services (TSE:CFW) Price Target Cut to C$4.50 by Analysts at Royal Bank of Canada

Calfrac Well Services (TSE:CFW) had its price target lowered by research analysts at Royal Bank of Canada from C$5.50 to C$4.50 in a note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 11.66% from the company’s current price.

Several other equities analysts also recently weighed in on the company. Stifel Canada downgraded Calfrac Well Services from a “buy” rating to a “hold” rating in a research report on Thursday, March 14th. Stifel Nicolaus lowered their target price on Calfrac Well Services from C$5.00 to C$4.50 and set a “hold” rating on the stock in a research report on Wednesday. Finally, ATB Capital downgraded Calfrac Well Services from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$10.00 to C$6.00 in a research report on Friday, March 15th.

Calfrac Well Services Stock Performance

Shares of CFW stock traded down C$0.03 on Wednesday, reaching C$4.03. The stock had a trading volume of 24,200 shares, compared to its average volume of 36,793. The stock has a market cap of C$345.45 million, a P/E ratio of 1.80, a price-to-earnings-growth ratio of -0.30 and a beta of 1.82. Calfrac Well Services has a 1 year low of C$3.74 and a 1 year high of C$6.20. The company has a debt-to-equity ratio of 44.68, a quick ratio of 1.33 and a current ratio of 2.20. The company has a 50 day simple moving average of C$4.41 and a 200 day simple moving average of C$4.63.

Calfrac Well Services (TSE:CFW) last released its quarterly earnings results on Thursday, March 14th. The company reported C$0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.23 by C($0.08). The firm had revenue of C$421.40 million during the quarter, compared to analysts’ expectations of C$402.50 million. Calfrac Well Services had a return on equity of 38.03% and a net margin of 10.23%. Equities research analysts expect that Calfrac Well Services will post 0.5686813 EPS for the current year.

About Calfrac Well Services

Calfrac Well Services Ltd., together with its subsidiaries, provides specialized oilfield services in Canada, the United States, and Argentina. It offers hydraulic fracturing, coiled tubing, cementing, and other well completion services for the oil and natural gas industry. The company was founded in 1999 and is headquartered in Calgary, Canada.