Calfrac Well Services (CFW) Releases Quarterly Earnings Results, Misses Expectations By $0.19 EPS
Calfrac Well Services (TSE:CFW) announced its quarterly earnings data on Wednesday. The company reported C($0.24) EPS for the quarter, missing the consensus estimate of C($0.05) by C($0.19), Morningstar.com reports. The firm had revenue of C$475.01 million for the quarter, compared to the consensus estimate of C$493.33 million.
TSE CFW opened at C$2.81 on Friday. Calfrac Well Services has a 12-month low of C$2.03 and a 12-month high of C$8.35. The company has a debt-to-equity ratio of 192.74, a current ratio of 2.38 and a quick ratio of 1.68. The firm has a market capitalization of $529.14 million and a P/E ratio of -21.62.
CFW has been the subject of several recent analyst reports. GMP Securities reaffirmed an “average” rating and set a C$5.00 price objective on shares of Calfrac Well Services in a research report on Tuesday, January 8th. Canaccord Genuity reduced their price target on shares of Calfrac Well Services from C$4.00 to C$3.25 in a research report on Thursday, January 10th. Raymond James raised shares of Calfrac Well Services from an “outperform” rating to a “strong-buy” rating in a research report on Friday, January 18th. CIBC reduced their price target on shares of Calfrac Well Services from C$6.50 to C$3.75 and set a “buy” rating for the company in a research report on Friday, February 1st. Finally, BMO Capital Markets reissued a “buy” rating and issued a C$5.00 price target (down previously from C$6.50) on shares of Calfrac Well Services in a research report on Thursday, February 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Calfrac Well Services has a consensus rating of “Hold” and a consensus price target of C$5.44.
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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