Trinidad Drilling (TDG) Price Target Increased to C$2.25 by Analysts at Canaccord Genuity

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Trinidad Drilling (TSE:TDG) had its target price boosted by stock analysts at Canaccord Genuity from C$2.00 to C$2.25 in a research report issued to clients and investors on Tuesday. Canaccord Genuity’s price target would suggest a potential upside of 23.63% from the stock’s previous close.

TDG has been the subject of a number of other reports. National Bank Financial lowered shares of Trinidad Drilling from an “outperform” rating to a “sector perform” rating and set a C$2.20 price target for the company. in a research report on Wednesday, September 26th. BMO Capital Markets reduced their price target on shares of Trinidad Drilling from C$3.00 to C$2.00 in a research report on Thursday, August 9th. Raymond James increased their price target on shares of Trinidad Drilling from C$2.75 to C$3.00 and gave the stock an “outperform” rating in a research report on Friday, June 29th. Finally, GMP Securities lowered shares of Trinidad Drilling from a “hold” rating to a “tender” rating in a research report on Tuesday, October 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of C$2.32.

Shares of TSE TDG traded up C$0.03 during mid-day trading on Tuesday, reaching C$1.82. The company had a trading volume of 263,022 shares, compared to its average volume of 729,718. Trinidad Drilling has a 12-month low of C$1.33 and a 12-month high of C$2.11.

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

In other news, Director Brian Burden acquired 20,400 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were purchased at an average price of C$1.49 per share, for a total transaction of C$30,396.00.

Trinidad Drilling Company Profile

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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