FY2024 EPS Estimates for Calfrac Well Services Ltd. (TSE:CFW) Cut by Atb Cap Markets

Calfrac Well Services Ltd. (TSE:CFW) – Equities research analysts at Atb Cap Markets lowered their FY2024 earnings per share (EPS) estimates for Calfrac Well Services in a report released on Thursday, August 1st. Atb Cap Markets analyst W. Syed now expects that the company will post earnings per share of $0.60 for the year, down from their previous forecast of $0.69. The consensus estimate for Calfrac Well Services’ current full-year earnings is $0.62 per share. Atb Cap Markets also issued estimates for Calfrac Well Services’ Q4 2024 earnings at $0.16 EPS and Q4 2025 earnings at $0.19 EPS.

Calfrac Well Services (TSE:CFW) last posted its quarterly earnings results on Tuesday, May 7th. The company reported C($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.01) by C($0.02). The firm had revenue of C$330.10 million during the quarter, compared to the consensus estimate of C$343.90 million. Calfrac Well Services had a net margin of 8.83% and a return on equity of 29.25%.

Several other equities analysts have also recently issued reports on CFW. Royal Bank of Canada raised their price target on Calfrac Well Services from C$4.50 to C$5.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. ATB Capital reduced their target price on Calfrac Well Services from C$6.00 to C$5.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Finally, Stifel Nicolaus reduced their target price on Calfrac Well Services from C$5.00 to C$4.50 and set a “hold” rating on the stock in a report on Wednesday, May 8th.

Calfrac Well Services Price Performance

Calfrac Well Services stock opened at C$4.09 on Monday. The business’s 50-day simple moving average is C$4.18 and its 200 day simple moving average is C$4.43. The stock has a market cap of C$350.59 million, a price-to-earnings ratio of 1.83, a P/E/G ratio of -0.30 and a beta of 1.79. Calfrac Well Services has a 12-month low of C$3.75 and a 12-month high of C$6.20. The company has a quick ratio of 1.33, a current ratio of 2.57 and a debt-to-equity ratio of 54.34.

Insiders Place Their Bets

In related news, insider Sime Armoyan bought 201,700 shares of Calfrac Well Services stock in a transaction on Monday, June 17th. The shares were purchased at an average price of C$3.93 per share, for a total transaction of C$792,681.00. In other Calfrac Well Services news, Director Charles Pellerin acquired 27,300 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of C$4.00 per share, for a total transaction of C$109,200.00. Also, insider Sime Armoyan acquired 201,700 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were acquired at an average price of C$3.93 per share, for a total transaction of C$792,681.00. Over the last quarter, insiders have purchased 1,404,000 shares of company stock worth $5,706,881. Insiders own 46.88% of the company’s stock.

Calfrac Well Services Company Profile

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.