GMP Securities Downgrades Trinidad Drilling (TDG) to Tender

GMP Securities lowered shares of Trinidad Drilling (TSE:TDG) from a hold rating to a tender rating in a research note issued to investors on Tuesday.

TDG has been the subject of a number of other research reports. National Bank Financial cut shares of Trinidad Drilling from an outperform rating to a sector perform rating and set a C$2.20 target price for the company. in a research report on Wednesday, September 26th. BMO Capital Markets decreased their target price on shares of Trinidad Drilling from C$3.00 to C$2.00 in a research report on Thursday, August 9th. Canaccord Genuity decreased their target price on shares of Trinidad Drilling from C$2.20 to C$2.10 in a research report on Tuesday, July 10th. Finally, Raymond James increased their target price on shares of Trinidad Drilling from C$2.75 to C$3.00 and gave the company an outperform rating in a research report on Friday, June 29th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Trinidad Drilling presently has a consensus rating of Buy and a consensus price target of C$2.34.

TSE:TDG opened at C$1.82 on Tuesday. Trinidad Drilling has a 52 week low of C$1.33 and a 52 week high of C$2.11.

Trinidad Drilling (TSE:TDG) last posted its earnings results on Tuesday, August 7th. The company reported C($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of C($0.09) by C$0.04. Trinidad Drilling had a negative net margin of 34.40% and a negative return on equity of 13.57%. The company had revenue of C$129.58 million during the quarter, compared to analysts’ expectations of C$120.10 million.

In related news, Director Brian Burden purchased 20,400 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was acquired at an average price of C$1.49 per share, with a total value of C$30,396.00.

About Trinidad Drilling

Trinidad Drilling Ltd. designs, builds, and operates drilling rigs for complex wells primarily in Canada, the United States, and internationally. It provides land drilling services. The company operates 70 rigs in Canada; and 69 rigs in the United States and internationally. It also engages in construction and insurance businesses; and provides rig technology and labor services.

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Analyst Recommendations for Trinidad Drilling (TSE:TDG)

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