Civeo Corp. (NYSE:CVEO) Receives $2.56 Average PT from Brokerages
Shares of Civeo Corp. (NYSE:CVEO) have been given an average rating of “Buy” by the six analysts that are currently covering the company. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $2.56.
A number of analysts have commented on CVEO shares. Howard Weil upgraded shares of Civeo Corp. from a “sector outperform” rating to a “focus stock” rating and set a $4.00 price target for the company in a research note on Wednesday, June 22nd. Scotiabank lowered shares of Civeo Corp. from a “focus stock” rating to an “outperform” rating and decreased their price target for the company from $4.00 to $3.00 in a research note on Friday, July 15th. Finally, Loop Capital started coverage on shares of Civeo Corp. in a research note on Friday, September 30th. They set a “buy” rating and a $2.25 price target for the company.
Several hedge funds have recently bought and sold shares of the company. TIAA CREF Investment Management LLC purchased a new stake in Civeo Corp. during the first quarter valued at about $122,000. Brookfield Asset Management Inc. raised its stake in Civeo Corp. by 75.1% in the first quarter. Brookfield Asset Management Inc. now owns 2,315,563 shares of the company’s stock valued at $2,848,000 after buying an additional 993,157 shares during the last quarter. Spark Investment Management LLC raised its stake in Civeo Corp. by 8.6% in the first quarter. Spark Investment Management LLC now owns 1,609,500 shares of the company’s stock valued at $1,979,000 after buying an additional 127,400 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Civeo Corp. during the first quarter valued at about $395,000. Finally, Nordea Investment Management AB purchased a new stake in Civeo Corp. during the second quarter valued at about $654,000. Hedge funds and other institutional investors own 67.97% of the company’s stock.
Shares of Civeo Corp. (NYSE:CVEO) opened at 1.11 on Friday. The stock’s 50 day moving average is $1.18 and its 200-day moving average is $1.52. Civeo Corp. has a 1-year low of $0.75 and a 1-year high of $2.40. The firm’s market cap is $119.97 million.
Civeo Corp. (NYSE:CVEO) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company earned $107 million during the quarter, compared to analyst estimates of $99.30 million. Civeo Corp. had a negative net margin of 38.58% and a negative return on equity of 10.09%. Analysts expect that Civeo Corp. will post ($0.65) earnings per share for the current year.
About Civeo Corp.
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