Calfrac Well Services (TSE:CFW) was downgraded by Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Monday, BayStreet.CA reports. They presently have a C$1.75 target price on the stock, down from their previous target price of C$5.50. Royal Bank of Canada’s price target points to a potential upside of 34.62% from the stock’s current price.

CFW has been the topic of a number of other reports. National Bank Financial cut their price objective on shares of Calfrac Well Services from C$2.25 to C$1.75 and set a “sector perform” rating on the stock in a research note on Thursday, August 15th. Canaccord Genuity cut their price objective on shares of Calfrac Well Services from C$2.20 to C$1.60 in a research note on Friday, August 16th. 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. Raymond James cut shares of Calfrac Well Services from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from C$7.50 to C$4.00 in a research report on Friday, August 2nd. Finally, 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of C$3.10.

Shares of TSE CFW remained flat at $C$1.30 during midday trading on Monday. 88,761 shares of the company were exchanged, compared to its average volume of 295,866. Calfrac Well Services has a fifty-two week low of C$1.22 and a fifty-two week high of C$4.82. The stock’s 50 day moving average is C$1.53 and its 200-day moving average is C$2.15. 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 firm has a market capitalization of $188.07 million and a P/E ratio of -2.82.

Calfrac Well Services (TSE:CFW) last issued its quarterly earnings data 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 company had revenue of C$429.64 million for the quarter, compared to analyst estimates of C$443.63 million. As a group, equities analysts anticipate that Calfrac Well Services will post -0.43 earnings per share 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.

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Analyst Recommendations for Calfrac Well Services (TSE:CFW)

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