Trinidad Drilling (TDG) Price Target Raised to C$2.25 at GMP Securities

Trinidad Drilling (TSE:TDG) had its price target increased by investment analysts at GMP Securities from C$2.00 to C$2.25 in a research note issued to investors on Thursday. GMP Securities’ price target indicates a potential upside of 25.70% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Scotiabank cut Trinidad Drilling from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$3.25 to C$2.50 in a research report on Friday, November 10th. National Bank Financial dropped their price objective on Trinidad Drilling from C$2.60 to C$1.95 and set a “sector perform” rating on the stock in a research report on Friday, November 10th. CIBC dropped their price objective on Trinidad Drilling from C$2.75 to C$2.50 in a research report on Friday, October 20th. TD Securities cut Trinidad Drilling from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$2.25 to C$2.00 in a research report on Thursday, November 9th. Finally, Raymond James Financial raised their target price on Trinidad Drilling from C$2.35 to C$2.55 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of C$2.41.

Trinidad Drilling (TSE:TDG) remained flat at $C$1.79 during trading on Thursday. 138,841 shares of the company’s stock traded hands, compared to its average volume of 791,893. Trinidad Drilling has a 1-year low of C$1.43 and a 1-year high of C$3.39. The company has a market capitalization of $489.49, a PE ratio of -6.39 and a beta of 1.39.

Trinidad Drilling (TSE:TDG) last released its quarterly earnings data on Wednesday, November 8th. The company reported C($0.16) EPS for the quarter, missing the consensus estimate of C($0.07) by C($0.09). Trinidad Drilling had a negative net margin of 34.40% and a negative return on equity of 13.57%.

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Trinidad Drilling Company Profile

Trinidad Drilling Ltd. is a Canada-based company, which operates in the drilling sector of the North American oil and natural gas industry, with operations in Canada and the United States. The Company operates through five segments, which include Canadian Operations, US and International Operations, Manufacturing Operations, Joint Venture Operations and Corporate.

Analyst Recommendations for Trinidad Drilling (TSE:TDG)

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