Trinidad Drilling (TDG) Price Target Raised to C$3.00 at GMP Securities

Trinidad Drilling (TSE:TDG) had its price objective boosted by stock analysts at GMP Securities from C$2.75 to C$3.00 in a research note issued on Friday. GMP Securities’ price target would indicate a potential upside of 50.75% from the company’s previous close.

A number of other brokerages have also issued reports on TDG. National Bank Financial boosted their target price on Trinidad Drilling from C$2.20 to C$2.30 and gave the stock a “sector perform” rating in a research report on Friday. BMO Capital Markets set a C$3.00 price target on Trinidad Drilling and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Canaccord Genuity upped their price target on Trinidad Drilling from C$2.00 to C$2.20 in a research report on Wednesday, February 28th. CIBC upped their price target on Trinidad Drilling from C$2.25 to C$2.50 in a research report on Tuesday, January 23rd. Finally, Raymond James Financial dropped their price target on Trinidad Drilling from C$2.75 to C$2.55 and set an “outperform” rating on the stock in a research report on Tuesday, January 30th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of C$2.59.

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Shares of Trinidad Drilling stock traded up C$0.03 on Friday, reaching C$1.99. 2,330,731 shares of the company were exchanged, compared to its average volume of 709,710. Trinidad Drilling has a fifty-two week low of C$1.43 and a fifty-two week high of C$2.57.

Trinidad Drilling (TSE:TDG) last announced its earnings results on Monday, February 26th. The company reported C($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($0.08) by C$0.03. The company had revenue of C$137.90 million for the quarter, compared to analyst estimates of C$136.70 million. Trinidad Drilling had a negative return on equity of 13.57% and a negative net margin of 34.40%.

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Trinidad Drilling Company Profile

Trinidad Drilling Ltd. designs, builds, and operates drilling rigs for the oil and gas industry primarily in Canada, the United States, and internationally. It provides land drilling services. As of December 31, 2016, the company operated 72 rigs in Canada; and 67 rigs in the United States and internationally.

Analyst Recommendations for Trinidad Drilling (TSE:TDG)

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