JPMorgan Chase & Co. Downgrades Calfrac Well Services (CFW) to Underweight

Calfrac Well Services (TSE:CFW) was downgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a note issued to investors on Thursday.

A number of other brokerages also recently issued reports on CFW. Raymond James boosted their price objective on Calfrac Well Services from C$10.00 to C$10.25 and gave the company a “c$5.74” rating in a research note on Wednesday, July 18th. Canaccord Genuity downgraded Calfrac Well Services from a “buy” rating to a “hold” rating and cut their price objective for the company from C$6.00 to C$4.75 in a research note on Tuesday. BMO Capital Markets cut their price objective on Calfrac Well Services from C$8.00 to C$6.50 in a research note on Thursday, July 26th. Royal Bank of Canada cut their price objective on Calfrac Well Services from C$8.00 to C$7.00 and set an “outperform” rating for the company in a research note on Thursday, July 26th. Finally, CIBC cut their price objective on Calfrac Well Services from C$9.50 to C$8.50 in a research note on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of C$7.04.

Shares of TSE:CFW opened at C$4.02 on Thursday. Calfrac Well Services has a 12-month low of C$3.88 and a 12-month high of C$8.35.

Calfrac Well Services (TSE:CFW) last announced its quarterly earnings data on Wednesday, July 25th. The company reported C($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.01 by C($0.02). The company had revenue of C$544.60 million for the quarter, compared to the consensus estimate of C$525.62 million. Calfrac Well Services had a net margin of 1.49% and a return on equity of 6.51%.

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.

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Analyst Recommendations for Calfrac Well Services (TSE:CFW)

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