TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Calfrac Well Services ( (TSE:CFW) ) has shared an update.
Calfrac Well Services Ltd. has announced a rights offering to raise C$35 million, backed by existing directors and shareholders. The proceeds, along with additional credit facility drawdowns, will be used to redeem outstanding second lien secured notes before their 2026 maturity, improving the company’s financial position and reducing debt obligations.
The most recent analyst rating on (TSE:CFW) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Calfrac Well Services stock, see the TSE:CFW Stock Forecast page.
Spark’s Take on TSE:CFW Stock
According to Spark, TipRanks’ AI Analyst, TSE:CFW is a Neutral.
Calfrac Well Services’ overall stock score is driven by mixed financial performance and neutral technical indicators. The company’s valuation appears high, with no dividend yield to offset this. Improvements in profitability are overshadowed by revenue and cash flow challenges, making it crucial for the company to address these issues to enhance its financial health.
To see Spark’s full report on TSE:CFW stock, click here.
More about Calfrac Well Services
Calfrac Well Services Ltd. operates in the oilfield services industry, providing specialized services such as hydraulic fracturing, coiled tubing, cementing, and other well stimulation services. The company primarily focuses on serving oil and gas exploration and production companies, offering solutions to enhance the productivity and efficiency of their operations.
Average Trading Volume: 21,281
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$274.8M
See more data about CFW stock on TipRanks’ Stock Analysis page.