Raymond James Cuts Trinidad Drilling Price Target to C$14.50 (TDG)
Raymond James decreased their target price on shares of Trinidad Drilling (TSE:TDG) from C$15.50 to C$14.50 in a research note issued on Wednesday. Raymond James’ price target would suggest a potential upside of 46.02% from the company’s current price.
Shares of Trinidad Drilling (TSE:TDG) traded up 0.91% on Wednesday, hitting $10.02. The stock had a trading volume of 315,665 shares. Trinidad Drilling has a one year low of $8.91 and a one year high of $12.89. The stock has a 50-day moving average of $10.67 and a 200-day moving average of $11.3. The company has a market cap of $1.385 billion and a price-to-earnings ratio of 31.03.
Trinidad Drilling (TSE:TDG) last posted its quarterly earnings results on Friday, August 8th. The company reported ($0.04) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.05 by $0.09. On average, analysts predict that Trinidad Drilling will post $0.42 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on TDG. Analysts at Canaccord Genuity cut their price target on shares of Trinidad Drilling from C$15.00 to C$14.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Separately, analysts at TD Securities cut their price target on shares of Trinidad Drilling from C$16.00 to C$14.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Finally, analysts at Scotiabank reiterated an “outperform” rating on shares of Trinidad Drilling in a research note on Thursday, August 7th. They now have a C$16.00 price target on the stock. Eight research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of C$13.77.
Trinidad Drilling Ltd. (TSE:TDG) is engaged in providing modern, reliable designed equipment operated by trained and experienced personnel.
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