Calfrac Well Services (TSE:CFW) Downgraded to Outperform at Raymond James

Raymond James downgraded shares of Calfrac Well Services (TSE:CFW) from a strong-buy rating to an outperform rating in a report released on Friday, BayStreet.CA reports. Raymond James currently has C$4.00 price target on the stock, down from their prior price target of C$7.50.

A number of other equities analysts also recently issued reports on the company. National Bank Financial lowered 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 research report on Thursday. Royal Bank of Canada lowered 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 research report on Thursday, July 18th. CIBC lowered their price objective on Calfrac Well Services from C$4.00 to C$3.25 in a research report on Thursday, July 18th. Canaccord Genuity lowered their price objective on Calfrac Well Services from C$2.60 to C$2.20 in a research report on Tuesday, July 9th. Finally, AltaCorp Capital downgraded Calfrac Well Services from a sector perform rating to an underperform rating in a research report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of C$3.68.

Shares of CFW traded up C$0.01 during mid-day trading on Friday, reaching C$1.70. 637,600 shares of the company were exchanged, compared to its average volume of 311,927. Calfrac Well Services has a 52 week low of C$1.65 and a 52 week high of C$5.64. 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 company has a market capitalization of $147.86 million and a PE ratio of -4.21. The stock has a 50 day simple moving average of C$1.98.

Calfrac Well Services (TSE:CFW) last issued its quarterly earnings data on Wednesday, May 1st. The company reported C($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C($0.05) by C($0.19). The firm had revenue of C$475.01 million during the quarter, compared to the consensus estimate of C$493.33 million. Equities research analysts predict that Calfrac Well Services will post -0.07 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.

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Analyst Recommendations for Calfrac Well Services (TSE:CFW)

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