Calfrac Well Services (TSE:CFW) Announces Earnings Results

Calfrac Well Services (TSE:CFW) released its quarterly earnings results on Tuesday. The company reported C$0.16 EPS for the quarter, FiscalAI reports. The business had revenue of C$365.71 million for the quarter. Calfrac Well Services had a net margin of 4.49% and a return on equity of 8.75%.

Calfrac Well Services Price Performance

Shares of TSE CFW traded down C$0.75 during mid-day trading on Wednesday, reaching C$6.55. The company had a trading volume of 509,254 shares, compared to its average volume of 122,336. The firm has a market cap of C$661.18 million, a price-to-earnings ratio of 10.74, a PEG ratio of -0.30 and a beta of -0.42. The business’s 50-day simple moving average is C$7.01 and its 200 day simple moving average is C$6.28. Calfrac Well Services has a one year low of C$3.02 and a one year high of C$8.07. The company has a debt-to-equity ratio of 20.48, a quick ratio of 1.33 and a current ratio of 1.52.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets raised shares of Calfrac Well Services from a “hold” rating to a “moderate buy” rating and raised their target price for the stock from C$7.50 to C$9.00 in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$8.50.

Insider Transactions at Calfrac Well Services

In other Calfrac Well Services news, Director Charles Pellerin sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of C$7.00, for a total transaction of C$700,000.00. Following the completion of the transaction, the director directly owned 5,814,123 shares in the company, valued at C$40,698,861. The trade was a 1.69% decrease in their ownership of the stock. Insiders have sold 408,600 shares of company stock worth $2,860,286 in the last 90 days. Corporate insiders own 46.88% of the company’s stock.

Calfrac Well Services Company Profile

Calfrac Well Services Ltd provides specialized oilfield services, including hydraulic fracturing, coiled tubing, cementing, and other well completion services to the oil and natural gas industries in Canada, the United States, Russia, and Argentina. It generates maximum revenue from the United States.