Calfrac Well Services Upgraded to Outperform at Scotiabank (CFW)
Calfrac Well Services (TSE:CFW) was upgraded by equities researchers at Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued on Friday. The firm currently has a C$26.00 target price on the stock, up from their previous target price of C$22.50. Scotiabank’s price objective suggests a potential upside of 20.93% from the stock’s previous close.
Shares of Calfrac Well Services (TSE:CFW) traded up 0.99% during mid-day trading on Friday, hitting $21.50. The stock had a trading volume of 266,748 shares. Calfrac Well Services has a one year low of $14.29 and a one year high of $21.65. The stock has a 50-day moving average of $19.44 and a 200-day moving average of $17.57. The company has a market cap of $2.024 billion and a price-to-earnings ratio of 170.32.
Calfrac Well Services (TSE:CFW) last announced its earnings results on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by $0.15. On average, analysts predict that Calfrac Well Services will post $0.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, June 26th.
CFW has been the subject of a number of other recent research reports. Analysts at CIBC raised their price target on shares of Calfrac Well Services from C$22.50 to C$25.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Pi Financial reiterated a “buy” rating on shares of Calfrac Well Services in a research note on Thursday. They now have a C$26.00 price target on the stock. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of C$34.58.
Calfrac Well Services Ltd. is a provider of specialized oilfield services in Canada, the United States, Russia, Mexico, Argentina and Colombia, including hydraulic fracturing, coiled tubing, cementing and other well stimulation services.
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