Analysts Set Western Energy Services Corp (WRG) Target Price at $0.70

Western Energy Services Corp (TSE:WRG) has been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$0.70.

WRG has been the topic of a number of research analyst reports. Canaccord Genuity reduced their target price on Western Energy Services from C$0.50 to C$0.40 in a report on Wednesday, March 20th. Cormark reduced their target price on Western Energy Services from C$0.90 to C$0.75 in a report on Monday, February 4th. TD Securities reduced their target price on Western Energy Services from C$0.60 to C$0.55 in a report on Thursday, February 14th. CIBC reaffirmed a “hold” rating and set a C$0.75 target price on shares of Western Energy Services in a report on Monday, February 4th. Finally, Raymond James reaffirmed a “market perform” rating and set a C$0.50 target price on shares of Western Energy Services in a report on Thursday, January 24th.

TSE:WRG traded down C$0.01 during trading hours on Friday, reaching C$0.31. 41,200 shares of the stock were exchanged, compared to its average volume of 62,287. The company has a quick ratio of 1.61, a current ratio of 1.82 and a debt-to-equity ratio of 70.77. Western Energy Services has a 52 week low of C$0.28 and a 52 week high of C$1.17. The company has a market cap of $27.69 million and a PE ratio of -0.67.

Western Energy Services (TSE:WRG) last released its earnings results on Wednesday, April 24th. The company reported C($0.08) EPS for the quarter, missing analysts’ consensus estimates of C($0.07) by C($0.01). The business had revenue of C$65.78 million during the quarter, compared to the consensus estimate of C$64.93 million. As a group, sell-side analysts expect that Western Energy Services will post -0.28 EPS for the current fiscal year.

Western Energy Services Company Profile

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 includes drilling rig and related ancillary equipment services. The Production Services segment offers well servicing rig and related equipment services.

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Analyst Recommendations for Western Energy Services (TSE:WRG)

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