Calfrac Well Services (TSE:CFW) price target raised to C$7.00 by Royal Bank of Canada analysts

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Calfrac Well Services (TSE:CFW – Get an Assessment) had its price target raised by Royal Bank of Canada equity research analysts from C$5.50 to C$7.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has an “industry performance” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 46.14% from the company’s current price.

Other research analysts have also recently published research reports on the company. Stifel Nicolaus raised his price target on Calfrac Well Services from CA$5.50 to CA$6.00 in a research note on Friday. BMO Capital Markets raised its target price on Calfrac Well Services from C$5.00 to C$6.00 in a research note on Friday. ATB Capital raised its target price on Calfrac Well Services from C$7.00 to C$8.00 in a research note on Friday. Finally, Raymond James cut his price target on Calfrac Well Services from CA$5.75 to CA$5.50 and set a “market performance” rating for the company in a Tuesday, May 17 research note.

Calfrac Well Services Inventory Performance

TSE:CFW traded at CA$0.04 during Friday’s trading, reaching CA$4.79. The company’s shares had a trading volume of 19,950 shares, compared to an average volume of 46,208. The company has a market capitalization of C$184.15 million and a price-earnings ratio of -2.20. The company has a debt ratio of 142.70, a quick ratio of 1.15 and a current ratio of 1.92. The company has a 50-day moving average of C$4.68 and a 200-day moving average of C$4.91. Calfrac Well Services has a 12-month low of C$2.75 and a 12-month high of C$6.45.

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Calfrac Well Services (TSE: CFW – Get Rating) last released its quarterly results on Tuesday, May 3. The company reported earnings per share of C ($0.47) for the quarter, missing the consensus estimate of C ($0.17) per C ($0.30). The company posted revenue of C$294.52 million in the quarter, compared to a consensus estimate of C$305.85 million. Research analysts expect Calfrac Well Services to post EPS of 0.43 for the current fiscal year.

About Calfrac Well Services

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Calfrac Well Services Ltd., together with its subsidiaries, provides specialized oilfield services in Canada, the United States and Argentina. It offers hydraulic fracturing, coiled tubing, cementing and other well stimulation services, as well as pressure pumping services to the petroleum and natural gas industries.

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