Shares of Trinidad Drilling Ltd. (TSE:TDG) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$1.87.
TDG has been the subject of several research reports. National Bank Financial cut Trinidad Drilling from a “sector perform” rating to a “tender” rating and set a C$1.68 price target for the company. in a report on Wednesday, November 28th. CIBC dropped their price target on Trinidad Drilling from C$1.75 to C$1.68 in a report on Wednesday, November 28th. Canaccord Genuity lifted their price target on Trinidad Drilling from C$2.00 to C$2.25 in a report on Tuesday, October 16th. GMP Securities cut Trinidad Drilling from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$2.50 to C$2.00 in a report on Thursday, August 9th. Finally, BMO Capital Markets dropped their price target on Trinidad Drilling from C$3.00 to C$2.00 in a report on Thursday, August 9th.
In other Trinidad Drilling news, insider Ensign Energy Services Inc. purchased 1,500,000 shares of the stock in a transaction dated Tuesday, November 27th. The stock was bought at an average price of C$1.68 per share, with a total value of C$2,520,000.00.
Shares of TSE TDG opened at C$1.68 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.70 and a debt-to-equity ratio of 63.50. Trinidad Drilling has a 12 month low of C$1.33 and a 12 month high of C$2.11.
Trinidad Drilling (TSE:TDG) last issued its earnings results on Friday, November 9th. The company reported C($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.08) by C($0.06). The firm had revenue of C$174.79 million during the quarter, compared to the consensus estimate of C$160.05 million. As a group, sell-side analysts forecast that Trinidad Drilling will post -0.2 EPS for the current year.
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.
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