Trinidad Drilling Ltd. (TSE:TDG) – Stock analysts at Cormark cut their FY2016 EPS estimates for Trinidad Drilling in a research note issued to investors on Monday. Cormark analyst J. Zhang now forecasts that the firm will post earnings of ($0.32) per share for the year, down from their prior forecast of ($0.31). Cormark also issued estimates for Trinidad Drilling’s Q4 2016 earnings at ($0.11) EPS, FY2017 earnings at ($0.24) EPS and FY2018 earnings at $0.05 EPS.
A number of other equities research analysts also recently weighed in on the company. Raymond James Financial, Inc. restated an “outperform” rating and set a C$4.25 price target on shares of Trinidad Drilling in a research report on Wednesday. BMO Capital Markets raised their price target on Trinidad Drilling from C$3.00 to C$3.75 in a research report on Tuesday, January 10th. Canaccord Genuity raised their price target on Trinidad Drilling from C$4.00 to C$4.50 in a research report on Tuesday, January 10th. Royal Bank Of Canada raised their price target on Trinidad Drilling from C$4.00 to C$5.00 in a research report on Friday, December 16th. Finally, RBC Capital Markets raised their price objective on Trinidad Drilling from C$4.00 to C$5.00 in a research note on Friday, December 16th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Trinidad Drilling presently has a consensus rating of “Buy” and an average price target of C$3.56.
Trinidad Drilling (TSE:TDG) opened at 3.19 on Wednesday. The stock has a 50 day moving average price of $3.26 and a 200-day moving average price of $2.69. The firm’s market capitalization is $708.46 million. Trinidad Drilling has a 52 week low of $1.41 and a 52 week high of $3.77.
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.