Western Energy Services Corp (WRG) Receives Average Recommendation of “Hold” from Brokerages

Shares of Western Energy Services Corp (TSE:WRG) have received an average rating of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokerages that have covered the stock in the last year is C$0.70.

WRG has been the subject of several recent research reports. Raymond James set a C$0.50 target price on shares of Western Energy Services and gave the company a “market perform” rating in a report on Thursday, February 14th. Canaccord Genuity lowered their target price on shares of Western Energy Services from C$0.50 to C$0.40 in a report on Wednesday, March 20th. AltaCorp Capital downgraded shares of Western Energy Services from an “outperform” rating to a “sector perform” rating in a research report on Monday, January 28th. Cormark reduced their price target on shares of Western Energy Services from C$0.90 to C$0.75 in a research report on Monday, February 4th. Finally, TD Securities reduced their price target on shares of Western Energy Services from C$0.60 to C$0.55 in a research report on Thursday, February 14th.

WRG traded up C$0.01 on Monday, hitting C$0.35. The company had a trading volume of 45,301 shares, compared to its average volume of 63,307. The company has a debt-to-equity ratio of 63.34, a current ratio of 1.44 and a quick ratio of 1.27. Western Energy Services has a 52-week low of C$0.28 and a 52-week high of C$1.21. The firm has a market capitalization of $31.38 million and a PE ratio of -0.76.

Western Energy Services (TSE:WRG) last issued its quarterly earnings data on Wednesday, February 13th. The company reported C($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.09) by C($0.01). The business had revenue of C$63.13 million for the quarter, compared to analyst estimates of C$58.63 million. Analysts expect that Western Energy Services will post -0.240000011815385 EPS for the current fiscal year.

Western Energy Services Company Profile

Western Energy Services Corp. operates as an oilfield service company in Canada and the United States. The company operates through Contract Drilling and Production Services segments. The Contract Drilling segment includes drilling rig and related ancillary equipment services. The Production Services segment offers well servicing rig and related equipment services.

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Analyst Recommendations for Western Energy Services (TSE:WRG)

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