TSE:CFW FY2024 EPS Forecast Reduced by Atb Cap Markets

Calfrac Well Services Ltd. (TSE:CFW) – Equities research analysts at Atb Cap Markets dropped their FY2024 earnings estimates for Calfrac Well Services in a report issued on Wednesday, November 6th. Atb Cap Markets analyst W. Syed now anticipates that the company will post earnings of $0.23 per share for the year, down from their previous estimate of $0.60. The consensus estimate for Calfrac Well Services’ current full-year earnings is $0.38 per share. Atb Cap Markets also issued estimates for Calfrac Well Services’ Q4 2024 earnings at $0.05 EPS, Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.20 EPS, Q3 2025 earnings at $0.21 EPS, Q4 2025 earnings at $0.01 EPS, FY2025 earnings at $0.44 EPS, Q2 2026 earnings at $0.20 EPS and Q3 2026 earnings at $0.21 EPS.

Calfrac Well Services (TSE:CFW) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.19 by C($0.27). Calfrac Well Services had a return on equity of 22.89% and a net margin of 7.23%. The firm had revenue of C$430.11 million during the quarter, compared to the consensus estimate of C$400.60 million.

Other equities research analysts have also issued research reports about the stock. ATB Capital lowered their target price on shares of 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. Royal Bank of Canada increased 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 research report on Friday, August 2nd.

Calfrac Well Services Stock Performance

Shares of CFW stock opened at C$3.83 on Monday. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 58.76. The firm has a fifty day simple moving average of C$3.86 and a two-hundred day simple moving average of C$4.05. Calfrac Well Services has a 12 month low of C$3.64 and a 12 month high of C$5.38. The firm has a market capitalization of C$328.61 million, a PE ratio of 1.71, a price-to-earnings-growth ratio of -0.30 and a beta of 1.65.

Insider Buying and Selling

In other Calfrac Well Services news, Director Charles Pellerin acquired 145,189 shares of Calfrac Well Services stock in a transaction on Friday, August 16th. The stock was purchased at an average price of C$4.00 per share, for a total transaction of C$580,756.00. In related news, insider Sime Armoyan purchased 63,600 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of C$3.85 per share, with a total value of C$244,860.00. Also, Director Charles Pellerin acquired 145,189 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average price of C$4.00 per share, for a total transaction of C$580,756.00. Over the last three months, insiders have acquired 286,289 shares of company stock worth $1,121,984. 46.88% of the stock is owned by company insiders.

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.