Calfrac Well Services Ltd (CFW) Forecasted to Post FY2017 Earnings of ($0.19) Per Share

Calfrac Well Services Ltd (TSE:CFW) – Investment analysts at Cormark lifted their FY2017 earnings per share (EPS) estimates for shares of Calfrac Well Services in a report issued on Wednesday. Cormark analyst J. Zhang now expects that the company will earn ($0.19) per share for the year, up from their prior forecast of ($0.20). Cormark also issued estimates for Calfrac Well Services’ Q1 2018 earnings at $0.09 EPS and Q2 2018 earnings at $0.02 EPS.

A number of other research analysts also recently issued reports on CFW. BMO Capital Markets boosted their price target on Calfrac Well Services from C$4.50 to C$6.00 and gave the company a “market perform” rating in a report on Friday, October 27th. Canaccord Genuity boosted their price target on Calfrac Well Services from C$3.00 to C$4.25 in a report on Thursday, July 27th. National Bank Financial boosted their price target on Calfrac Well Services from C$6.50 to C$7.50 and gave the company an “outperform” rating in a report on Friday, October 27th. GMP Securities boosted their price target on Calfrac Well Services from C$3.00 to C$4.00 in a report on Thursday, July 27th. Finally, Scotiabank boosted their price target on Calfrac Well Services from C$5.00 to C$6.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of C$6.23.

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Calfrac Well Services (CFW) opened at C$5.95 on Friday. Calfrac Well Services has a twelve month low of C$2.23 and a twelve month high of C$5.93.

In other news, insider Wilks Brothers, Llc bought 2,453,000 shares of Calfrac Well Services stock in a transaction on Wednesday, September 13th. The shares were purchased at an average price of C$4.25 per share, for a total transaction of C$10,425,250.00. Also, insider Dan Wilks bought 2,094,577 shares of Calfrac Well Services stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average price of C$3.42 per share, for a total transaction of C$7,163,453.34. Insiders have acquired a total of 5,687,677 shares of company stock worth $21,742,669 in the last quarter.

Calfrac Well Services Company Profile

Calfrac Well Services Ltd. is a provider of specialized oilfield services. The Company operates through four geographical segments: Canada, the United States, Russia and Latin America. Its services include hydraulic fracturing, coiled tubing, cementing and other well stimulation services. The Canadian segment provides fracturing and coiled tubing services to oil and natural gas exploration and production companies in Alberta, northeast British Columbia, Saskatchewan and southwest Manitoba.

Earnings History and Estimates for Calfrac Well Services (TSE:CFW)

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