FY2022 Earnings Forecast for Calfrac Well Services Ltd. Issued By Stifel Firstegy (TSE:CFW)

Calfrac Well Services Ltd. (TSE:CFW – Get Rating) – Research analysts at Stifel Firstegy lifted their FY2022 earnings per share (EPS) estimates for Calfrac Well Services in a report released on Tuesday, January 17th. Stifel Firstegy analyst C. Pereira now forecasts that the company will earn $0.70 per share for the year, up from their previous estimate of $0.42. Stifel Firstegy has a “Buy” rating on the stock. The consensus estimate for Calfrac Well Services’ current full-year earnings is $1.22 per share. Stifel Firstegy also issued estimates for Calfrac Well Services’ FY2024 earnings at $2.40 EPS.

Calfrac Well Services (TSE:CFW – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The company reported C$0.60 EPS for the quarter, beating the consensus estimate of C$0.39 by C$0.21. The company had revenue of C$438.34 million during the quarter, compared to analyst estimates of C$415.60 million.

A number of other equities research analysts have also recently issued reports on CFW. BMO Capital Markets upped their target price on shares of Calfrac Well Services from C$6.50 to C$8.50 in a report on Thursday, November 3rd. ATB Capital upped their price objective on Calfrac Well Services from C$13.00 to C$14.50 in a research note on Wednesday, January 4th. Stifel Nicolaus lifted their target price on Calfrac Well Services from C$12.00 to C$13.00 in a research note on Tuesday, November 22nd. Finally, Raymond James increased their price target on Calfrac Well Services from C$5.50 to C$10.00 and gave the company a “market perform” rating in a research note on Thursday, November 3rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of C$10.80.

Calfrac Well Services Stock Performance

TSE CFW opened at C$6.98 on Friday. The firm has a market capitalization of C$561.18 million and a P/E ratio of -3.21. The company has a current ratio of 2.07, a quick ratio of 1.33 and a debt-to-equity ratio of 120.62. The firm’s fifty day moving average price is C$6.56 and its two-hundred day moving average price is C$5.80. Calfrac Well Services has a 1 year low of C$4.08 and a 1 year high of C$7.90.

Insider Transactions at Calfrac Well Services

In other news, Director Charles Pellerin purchased 8,500 shares of Calfrac Well Services stock in a transaction that occurred on Wednesday, December 28th. The stock was acquired at an average cost of C$5.94 per share, for a total transaction of C$50,515.50. Following the purchase, the director now directly owns 558,500 shares of the company’s stock, valued at approximately C$3,319,165.50. In other Calfrac Well Services news, Director Charles Pellerin purchased 8,500 shares of the stock in a transaction that occurred on Wednesday, December 28th. The shares were acquired at an average cost of C$5.94 per share, with a total value of C$50,515.50. Following the completion of the transaction, the director now owns 558,500 shares in the company, valued at C$3,319,165.50. Also, 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 approximately C$77,707,265.76. Over the last quarter, insiders have bought 13,400 shares of company stock worth $82,228 and have sold 867,263 shares worth $6,292,425.

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.