Calfrac Well Services (TSE:CFW) Releases Earnings Results, Misses Expectations By $0.27 EPS

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

Calfrac Well Services Stock Down 2.1 %

Shares of TSE CFW opened at C$3.78 on Friday. 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 company has a 50-day moving average of C$3.87 and a 200 day moving average of C$4.07. Calfrac Well Services has a 12-month low of C$3.68 and a 12-month high of C$5.38. The stock has a market cap of C$324.32 million, a PE ratio of 1.69, a P/E/G ratio of -0.30 and a beta of 1.65.

Insider Transactions at Calfrac Well Services

In related news, insider Sime Armoyan bought 77,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was bought at an average cost of C$3.82 per share, for a total transaction of C$296,367.75. In other Calfrac Well Services news, Director Charles Pellerin acquired 145,189 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average cost of C$4.00 per share, for a total transaction of C$580,756.00. Also, insider Sime Armoyan acquired 77,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average price of C$3.82 per share, with a total value of C$296,367.75. Insiders have purchased a total of 286,289 shares of company stock worth $1,121,984 in the last ninety days. Insiders own 46.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Royal Bank of Canada increased their target price 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 dropped their price target on Calfrac Well Services from C$6.00 to C$5.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd.

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.