Canaccord Genuity Boosts Trinidad Drilling (TDG) Price Target to C$2.25

Trinidad Drilling (TSE:TDG) had its price objective lifted by Canaccord Genuity from C$2.00 to C$2.25 in a research note issued to investors on Tuesday.

A number of other research firms also recently issued reports on TDG. GMP Securities downgraded Trinidad Drilling from a hold rating to a tender rating in a research note on Tuesday, October 9th. National Bank Financial downgraded 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 note on Wednesday, September 26th. BMO Capital Markets cut their price target on Trinidad Drilling from C$3.00 to C$2.00 in a research note on Thursday, August 9th. Finally, Raymond James lifted their price target on Trinidad Drilling from C$2.75 to C$3.00 and gave the company an outperform rating in a research note on Friday, June 29th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Trinidad Drilling has a consensus rating of Buy and an average price target of C$2.32.

Shares of Trinidad Drilling stock opened at C$1.79 on Tuesday. Trinidad Drilling has a one year low of C$1.33 and a one year high of C$2.11.

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

In related news, Director Brian Burden purchased 20,400 shares of the business’s stock in a transaction on Friday, August 10th. The stock was acquired 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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