Equities Analysts Set Expectations for Calfrac Well Services Ltd.’s Q3 2024 Earnings (TSE:CFW)

Calfrac Well Services Ltd. (TSE:CFW) – Atb Cap Markets reduced their Q3 2024 EPS estimates for shares of Calfrac Well Services in a research report issued to clients and investors on Sunday, April 7th. Atb Cap Markets analyst W. Syed now anticipates that the company will post earnings per share of $0.29 for the quarter, down from their previous estimate of $0.30. The consensus estimate for Calfrac Well Services’ current full-year earnings is $0.63 per share. Atb Cap Markets also issued estimates for Calfrac Well Services’ Q4 2024 earnings at $0.17 EPS, FY2024 earnings at $0.57 EPS, Q1 2025 earnings at $0.21 EPS, Q2 2025 earnings at $0.17 EPS, Q3 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.16 EPS, FY2025 earnings at $0.81 EPS and Q1 2026 earnings at $0.24 EPS.

Other research analysts also recently issued research reports about the stock. Stifel Canada downgraded shares of Calfrac Well Services from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th. Royal Bank of Canada lowered their price objective on shares of Calfrac Well Services from C$6.50 to C$5.50 and set a “sector perform” rating on the stock in a research report on Friday, March 15th. Stifel Nicolaus cut shares of Calfrac Well Services from a “buy” rating to a “hold” rating and reduced their target price for the company from C$7.00 to C$5.00 in a report on Friday, March 15th. Finally, ATB Capital cut shares of Calfrac Well Services from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from C$10.00 to C$6.00 in a report on Friday, March 15th.

Calfrac Well Services Trading Up 2.0 %

TSE:CFW opened at C$4.54 on Wednesday. The company’s 50-day simple moving average is C$4.66 and its 200 day simple moving average is C$4.75. The firm has a market capitalization of C$389.17 million, a P/E ratio of 2.03, a PEG ratio of -0.30 and a beta of 1.86. Calfrac Well Services has a one year low of C$3.70 and a one year high of C$6.20. The company has a debt-to-equity ratio of 44.68, a current ratio of 2.20 and a quick ratio of 1.33.

Calfrac Well Services (TSE:CFW) last announced its quarterly earnings results on Thursday, March 14th. The company reported C$0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.23 by C($0.08). The firm had revenue of C$421.40 million during the quarter, compared to the consensus estimate of C$402.50 million. Calfrac Well Services had a return on equity of 38.03% and a net margin of 10.23%.

About Calfrac Well Services

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 completion services for the oil and natural gas industry. The company was founded in 1999 and is headquartered in Calgary, Canada.