Calfrac Well Services (TSE:CFW) Lowered to “Outperform” at Raymond James

Calfrac Well Services (TSE:CFW) was downgraded by investment analysts at Raymond James from a “strong-buy” rating to an “outperform” rating in a research note issued on Friday, BayStreet.CA reports. They currently have a C$4.00 target price on the stock, down from their prior target price of C$7.50. Raymond James’ target price suggests a potential upside of 133.92% from the company’s previous close.

Several other analysts have also recently commented on the company. Cormark reduced their price target on Calfrac Well Services from C$7.00 to C$4.25 in a report on Wednesday, May 8th. CIBC reduced their price target on Calfrac Well Services from C$4.00 to C$3.25 in a report on Thursday, July 18th. National Bank Financial reduced their price objective on Calfrac Well Services from C$4.35 to C$2.25 and set a “sector perform” rating for the company in a report on Thursday. TD Securities reduced their price objective on Calfrac Well Services from C$4.25 to C$3.75 and set a “hold” rating for the company in a report on Thursday, May 2nd. Finally, Royal Bank of Canada reduced their price objective on Calfrac Well Services from C$10.00 to C$6.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Calfrac Well Services presently has a consensus rating of “Hold” and a consensus price target of C$3.68.

Shares of CFW traded up C$0.02 during mid-day trading on Friday, hitting C$1.71. The company’s stock had a trading volume of 513,979 shares, compared to its average volume of 311,092. The company has a debt-to-equity ratio of 205.83, a current ratio of 2.10 and a quick ratio of 1.48. The business has a 50-day moving average of C$1.98. The stock has a market capitalization of $244.35 million and a price-to-earnings ratio of -4.21. Calfrac Well Services has a 1-year low of C$1.65 and a 1-year high of C$5.64.

Calfrac Well Services (TSE:CFW) last posted its quarterly earnings results on Wednesday, May 1st. The company reported C($0.24) EPS for the quarter, missing the consensus estimate of C($0.05) by C($0.19). The firm had revenue of C$475.01 million during the quarter, compared to analyst estimates of C$493.33 million. Sell-side analysts anticipate that Calfrac Well Services will post 0.01 EPS for the current fiscal year.

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.

Read More: Why do analysts give a neutral rating?

Analyst Recommendations for Calfrac Well Services (TSE:CFW)

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