Trinidad Drilling Ltd. (TDG) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Trinidad Drilling Ltd. (TSE:TDG) have been given a consensus recommendation of “Buy” by the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$2.68.

A number of equities research analysts have recently issued reports on TDG shares. GMP Securities upped their target price on shares of Trinidad Drilling from C$2.75 to C$3.00 in a report on Friday, April 13th. Canaccord Genuity dropped their target price on shares of Trinidad Drilling from C$2.20 to C$2.00 in a report on Wednesday, April 11th. Raymond James upped their target price on shares of Trinidad Drilling from C$2.75 to C$3.00 and gave the stock an “outperform” rating in a report on Friday, June 29th. Finally, National Bank Financial boosted their price target on shares of Trinidad Drilling from C$2.40 to C$2.60 and gave the company a “sector perform” rating in a research report on Tuesday, July 3rd.

TDG stock opened at C$1.83 on Monday. Trinidad Drilling has a fifty-two week low of C$1.43 and a fifty-two week high of C$2.11.

Trinidad Drilling (TSE:TDG) last released its earnings results on Monday, May 7th. The company reported C($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C($0.07) by C($0.01). 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$153.25 million for the quarter, compared to analysts’ expectations of C$153.93 million.

About Trinidad Drilling

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.

Analyst Recommendations for Trinidad Drilling (TSE:TDG)

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