Trinidad Drilling (TDG) Price Target Cut to C$2.00

Trinidad Drilling (TSE:TDG) had its price target cut by research analysts at Canaccord Genuity from C$2.10 to C$2.00 in a report released on Tuesday. Canaccord Genuity’s price target points to a potential upside of 14.94% from the company’s previous close.

TDG has been the topic of a number of other research reports. TD Securities downgraded shares of Trinidad Drilling from a “buy” rating to a “hold” rating and dropped their price target for the company from C$2.25 to C$2.00 in a report on Thursday, November 9th. Raymond James Financial dropped their price objective on shares of Trinidad Drilling from C$2.80 to C$2.20 and set an “outperform” rating on the stock in a report on Wednesday, December 6th. CIBC dropped their price objective on shares of Trinidad Drilling from C$2.75 to C$2.50 in a report on Friday, October 20th. National Bank Financial downgraded shares of Trinidad Drilling from an “outperform market weight” rating to a “sector perform overweight” rating in a report on Thursday, November 9th. Finally, GMP Securities raised their price objective on shares of Trinidad Drilling from C$2.00 to C$2.25 in a report on Thursday, January 18th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Trinidad Drilling has a consensus rating of “Buy” and a consensus price target of C$2.47.

Shares of Trinidad Drilling (TSE TDG) traded down C$0.01 during midday trading on Tuesday, hitting C$1.74. 287,453 shares of the stock were exchanged, compared to its average volume of 599,274. The stock has a market cap of $478.55, a P/E ratio of -6.21 and a beta of 1.37. Trinidad Drilling has a 12-month low of C$1.43 and a 12-month high of C$3.03.

Trinidad Drilling (TSE:TDG) last announced its quarterly earnings results on Wednesday, November 8th. The company reported C($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.07) by C($0.09). The company had revenue of C$129.81 million for the quarter, compared to analysts’ expectations of C$133.20 million. Trinidad Drilling had a negative net margin of 34.40% and a negative return on equity of 13.57%.

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About Trinidad Drilling

Trinidad Drilling Ltd. is a Canada-based company, which operates in the drilling sector of the North American oil and natural gas industry, with operations in Canada and the United States. The Company operates through five segments, which include Canadian Operations, US and International Operations, Manufacturing Operations, Joint Venture Operations and Corporate.

Analyst Recommendations for Trinidad Drilling (TSE:TDG)

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