Atb Cap Markets Weighs in on Calfrac Well Services Ltd.’s Q3 2024 Earnings (TSE:CFW)

Calfrac Well Services Ltd. (TSE:CFW) – Atb Cap Markets upped their Q3 2024 earnings per share estimates for shares of Calfrac Well Services in a research note issued to investors on Tuesday, May 7th. Atb Cap Markets analyst W. Syed now expects that the company will earn $0.38 per share for the quarter, up from their prior estimate of $0.29. The consensus estimate for Calfrac Well Services’ current full-year earnings is $0.57 per share. Atb Cap Markets also issued estimates for Calfrac Well Services’ Q4 2024 earnings at $0.25 EPS, FY2024 earnings at $0.71 EPS, Q2 2025 earnings at $0.22 EPS, Q3 2025 earnings at $0.40 EPS, Q4 2025 earnings at $0.21 EPS, FY2025 earnings at $1.02 EPS and FY2026 earnings at $1.08 EPS.

A number of other research firms have also recently commented on CFW. Stifel Canada cut 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 reduced their target price on Calfrac Well Services from C$5.50 to C$4.50 and set a “sector perform” rating for the company in a report on Wednesday. Stifel Nicolaus lowered their price target on Calfrac Well Services from C$5.00 to C$4.50 and set a “hold” rating on the stock in a research note on Wednesday. Finally, ATB Capital lowered Calfrac Well Services from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$10.00 to C$6.00 in a report on Friday, March 15th.

Calfrac Well Services Price Performance

Shares of TSE CFW opened at C$4.15 on Friday. The company has a debt-to-equity ratio of 44.68, a quick ratio of 1.33 and a current ratio of 2.20. The firm has a market cap of C$355.74 million, a PE ratio of 1.85, a PEG ratio of -0.30 and a beta of 1.82. Calfrac Well Services has a one year low of C$3.74 and a one year high of C$6.20. The firm has a fifty day moving average of C$4.37 and a 200 day moving average of C$4.62.

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

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.