Brokers Offer Predictions for Calfrac Well Services Ltd.’s FY2022 Earnings (TSE:CFW)

Calfrac Well Services Ltd. (TSE:CFWGet Rating) – Equities researchers at Atb Cap Markets raised their FY2022 EPS estimates for Calfrac Well Services in a research note issued on Tuesday, November 22nd. Atb Cap Markets analyst W. Syed now forecasts that the company will post earnings of $0.75 per share for the year, up from their prior estimate of $0.67. Atb Cap Markets currently has a “Outperform” rating on the stock. The consensus estimate for Calfrac Well Services’ current full-year earnings is $1.46 per share. Atb Cap Markets also issued estimates for Calfrac Well Services’ Q4 2022 earnings at $0.38 EPS, Q1 2023 earnings at $0.47 EPS, Q2 2023 earnings at $0.28 EPS, Q3 2023 earnings at $0.55 EPS, Q4 2023 earnings at $0.47 EPS, FY2023 earnings at $1.78 EPS, Q1 2024 earnings at $0.52 EPS, Q2 2024 earnings at $0.33 EPS, Q3 2024 earnings at $0.56 EPS and FY2024 earnings at $1.87 EPS.

Several other equities analysts have also issued reports on CFW. ATB Capital boosted their target price on shares of Calfrac Well Services from C$11.50 to C$13.00 in a report on Wednesday. Stifel Nicolaus boosted their target price on shares of Calfrac Well Services from C$12.00 to C$13.00 in a report on Tuesday. BMO Capital Markets boosted their target price on shares of Calfrac Well Services from C$6.50 to C$8.50 in a report on Thursday, November 3rd. Royal Bank of Canada boosted their target price on shares of Calfrac Well Services from C$7.00 to C$8.00 and gave the company a “sector perform” rating in a report on Wednesday, September 14th. Finally, Stifel Firstegy upgraded shares of Calfrac Well Services from a “hold” rating to a “buy” rating in a report on Wednesday, November 2nd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$10.50.

Calfrac Well Services Price Performance

Shares of TSE:CFW opened at C$6.88 on Thursday. The firm has a market cap of C$268.73 million and a PE ratio of -3.17. The company has a debt-to-equity ratio of 120.62, a quick ratio of 1.33 and a current ratio of 2.07. Calfrac Well Services has a 52 week low of C$4.05 and a 52 week high of C$7.90. The firm’s fifty day moving average is C$6.29 and its 200-day moving average is C$5.33.

Insider Transactions at Calfrac Well Services

In other news, insider Sime Armoyan sold 808,296 shares of the business’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of C$7.26, for a total transaction of C$5,865,642.41. Following the completion of the sale, the insider now directly owns 10,708,200 shares of the company’s stock, valued at C$77,707,265.76. In other news, insider Sime Armoyan sold 808,296 shares of the business’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of C$7.26, for a total transaction of C$5,865,642.41. Following the completion of the sale, the insider now directly owns 10,708,200 shares of the company’s stock, valued at C$77,707,265.76. Also, insider Glendon Capital Management L.P. sold 100,000 shares of the business’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of C$5.67, for a total transaction of C$567,000.00. Following the sale, the insider now directly owns 234,124 shares of the company’s stock, valued at C$1,327,483.08. Insiders sold a total of 1,731,492 shares of company stock valued at $10,894,870 over the last three months.

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 oil and natural gas industries.

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

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