Piper Jaffray Companies Research Analysts Lower Earnings Estimates for Calfrac Well Services Ltd (CFW)

Calfrac Well Services Ltd (TSE:CFW) – Equities researchers at Piper Jaffray Companies reduced their Q3 2018 earnings per share estimates for Calfrac Well Services in a research note issued on Monday, June 25th. Piper Jaffray Companies analyst J. Daniel now forecasts that the company will post earnings of $0.17 per share for the quarter, down from their prior forecast of $0.21. Piper Jaffray Companies also issued estimates for Calfrac Well Services’ Q1 2019 earnings at $0.09 EPS, Q2 2019 earnings at ($0.04) EPS, Q3 2019 earnings at $0.11 EPS, Q4 2019 earnings at $0.17 EPS and FY2019 earnings at $0.33 EPS.

A number of other equities research analysts have also issued reports on CFW. BMO Capital Markets boosted their target price on Calfrac Well Services from C$6.00 to C$8.00 and gave the stock a “market perform” rating in a research report on Friday, March 2nd. National Bank Financial lowered Calfrac Well Services from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$7.50 to C$7.00 in a research report on Friday, March 2nd. Canaccord Genuity raised Calfrac Well Services from a “speculative buy” rating to a “buy” rating in a research report on Friday, March 2nd. Scotiabank raised Calfrac Well Services from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$8.50 to C$10.00 in a research report on Friday, March 2nd. Finally, Evercore boosted their target price on Calfrac Well Services from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 6th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Calfrac Well Services presently has an average rating of “Buy” and a consensus price target of C$7.64.

Shares of Calfrac Well Services opened at C$5.75 on Thursday, according to MarketBeat.com. Calfrac Well Services has a 52 week low of C$2.31 and a 52 week high of C$8.35.

Calfrac Well Services (TSE:CFW) last announced its quarterly earnings data on Tuesday, May 1st. The company reported C$0.01 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.10 by C($0.09). The firm had revenue of C$582.84 million during the quarter, compared to the consensus estimate of C$524.35 million. Calfrac Well Services had a net margin of 1.49% and a return on equity of 6.51%.

In related news, insider Scott Antony Treadwell sold 25,000 shares of the company’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of C$5.65, for a total transaction of C$141,250.00.

Calfrac Well Services Company Profile

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.

Earnings History and Estimates for Calfrac Well Services (TSE:CFW)

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