Cormark Brokers Boost Earnings Estimates for Trinidad Drilling Ltd. (TDG)
Trinidad Drilling Ltd. (TSE:TDG) – Analysts at Cormark increased their Q2 2018 EPS estimates for Trinidad Drilling in a research note issued to investors on Wednesday. Cormark analyst J. Zhang now expects that the company will post earnings of ($0.05) per share for the quarter, up from their previous forecast of ($0.06). Cormark also issued estimates for Trinidad Drilling’s FY2018 earnings at ($0.08) EPS.
Several other research analysts have also commented on TDG. Raymond James Financial lifted their price target on shares of Trinidad Drilling from C$2.35 to C$2.55 and gave the company an “outperform” rating in a report on Tuesday. National Bank Financial reduced their target price on shares of Trinidad Drilling from C$2.60 to C$1.95 and set a “sector perform” rating for the company in a research note on Friday, November 10th. TD Securities lowered shares of Trinidad Drilling from a “buy” rating to a “hold” rating and reduced their target price for the company from C$2.25 to C$2.00 in a research note on Thursday, November 9th. CIBC reduced their target price on shares of Trinidad Drilling from C$2.75 to C$2.50 in a research note on Friday, October 20th. Finally, Royal Bank of Canada reduced their target price on shares of Trinidad Drilling from C$3.50 to C$3.00 and set an “outperform” rating for the company in a research note on Friday, October 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Trinidad Drilling presently has an average rating of “Buy” and an average target price of C$2.43.
Trinidad Drilling (TDG) traded down C$0.04 during midday trading on Friday, hitting C$1.86. 557,500 shares of the stock traded hands, compared to its average volume of 812,508. Trinidad Drilling has a 1-year low of C$1.43 and a 1-year high of C$3.45. The firm has a market cap of $508.63, a price-to-earnings ratio of -6.64 and a beta of 1.39.
Trinidad Drilling Company Profile
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.
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