Canaccord Genuity Cuts Western Energy Services (WRG) Price Target to C$0.55

Western Energy Services (TSE:WRG) had its price target trimmed by Canaccord Genuity from C$0.90 to C$0.55 in a research note issued to investors on Thursday.

A number of other equities research analysts have also weighed in on WRG. Cormark lowered their target price on shares of Western Energy Services from C$1.35 to C$1.10 in a report on Friday, July 27th. TD Securities lowered their target price on shares of Western Energy Services from C$1.20 to C$1.10 and set a hold rating on the stock in a report on Thursday, July 26th. Royal Bank of Canada lowered their target price on shares of Western Energy Services from C$1.50 to C$1.25 and set a sector perform rating on the stock in a report on Friday, July 27th. Finally, CIBC lowered shares of Western Energy Services from an outperform rating to a neutral rating and lowered their target price for the stock from C$2.00 to C$1.15 in a report on Tuesday, October 16th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Western Energy Services has an average rating of Buy and an average target price of C$1.04.

WRG opened at C$0.53 on Thursday. The company has a quick ratio of 1.46, a current ratio of 1.63 and a debt-to-equity ratio of 62.65. Western Energy Services has a fifty-two week low of C$0.46 and a fifty-two week high of C$1.43.

Western Energy Services (TSE:WRG) last posted its earnings results on Wednesday, October 24th. The company reported C($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of C($0.09) by C($0.02). The company had revenue of C$58.88 million for the quarter, compared to the consensus estimate of C$57.00 million. On average, analysts anticipate that Western Energy Services will post -0.303092777255819 earnings per share for the current year.

About Western Energy Services

Western Energy Services Corp. operates as an oilfield service company in Canada and the United States. The company operates through Contract Drilling and Production Services segments. The Contract Drilling segment operates drilling rigs and related ancillary equipment. It operates a fleet of 56 drilling rigs, including 50 in Canada and 6 in the United States.

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