Canyon Services Group Inc to Post FY2017 Earnings of ($0.27) Per Share, Clarus Securities Forecasts (FRC)

Canyon Services Group Inc (TSE:FRC) – Analysts at Clarus Securities reduced their FY2017 earnings estimates for shares of Canyon Services Group in a research note issued to investors on Wednesday, according to Zacks Investment Research. Clarus Securities analyst S. Kammermayer now forecasts that the company will earn ($0.27) per share for the year, down from their prior estimate of ($0.26).

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Earnings History and Estimates for Canyon Services Group (TSE:FRC)

A number of other equities research analysts have also recently issued reports on FRC. Royal Bank of Canada set a C$9.00 target price on shares of Canyon Services Group and gave the company an “outperform” rating in a report on Tuesday, January 17th. BMO Capital Markets upped their target price on shares of Canyon Services Group from C$7.00 to C$9.00 in a report on Tuesday, January 10th. CIBC cut shares of Canyon Services Group from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 4th. Canaccord Genuity increased their price target on shares of Canyon Services Group from C$8.50 to C$9.00 in a report on Tuesday, January 10th. Finally, AltaCorp Capital cut shares of Canyon Services Group from an “outperform” rating to a “sector perform” rating in a report on Monday, January 9th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of C$7.50.

Shares of Canyon Services Group (TSE:FRC) traded down 2.05% during mid-day trading on Friday, hitting $6.68. The company had a trading volume of 282,566 shares. The company’s market capitalization is $576.90 million. The firm’s 50-day moving average price is $6.20 and its 200 day moving average price is $6.17. Canyon Services Group has a one year low of $4.27 and a one year high of $7.58.

In other Canyon Services Group news, insider Quentin Maurice Walker sold 7,500 shares of the stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of C$5.37, for a total value of C$40,275.00.

About Canyon Services Group

Canyon Services Group Inc provides stimulation and fluid management services to oil and gas exploration and production companies operating in the Western Canadian Sedimentary Basin. The Company’s segments include Pressure Pumping Services and Fluid Management Services. Pressure pumping services include hydraulic fracturing, nitrogen fracturing, coiled tubing, chemical stimulation and cementing.

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