Civeo (NYSE:CVEO) Issues Quarterly Earnings Results

Civeo (NYSE:CVEO) issued its quarterly earnings results on Thursday. The business services provider reported $0.50 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.77, Zacks reports. Civeo had a negative net margin of 1.93% and a negative return on equity of 7.82%.

Civeo Stock Up 0.4%

CVEO traded up $0.13 during trading on Thursday, reaching $30.35. 156,371 shares of the stock were exchanged, compared to its average volume of 100,516. The stock has a market cap of $313.84 million, a P/E ratio of -25.94 and a beta of 0.71. Civeo has a twelve month low of $20.59 and a twelve month high of $36.50. The stock’s 50 day moving average price is $32.25 and its two-hundred day moving average price is $30.93. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.81 and a current ratio of 1.89.

Analyst Upgrades and Downgrades

CVEO has been the subject of several analyst reports. Northland Securities initiated coverage on Civeo in a report on Thursday, October 1st. They issued an “outperform” rating and a $42.00 price objective for the company. Roth Capital began coverage on Civeo in a report on Thursday, October 1st. They set a “buy” rating and a $39.00 target price on the stock. Raymond James Financial lowered Civeo from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 1st. Finally, Weiss Ratings raised Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 31st. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Civeo has a consensus rating of “Moderate Buy” and an average price target of $42.25.

Civeo Company Profile

Civeo Corporation is a provider of workforce accommodations and related services for the natural resources and other industries that operate in remote locations. The company develops, owns and operates workforce villages, lodges and other lodging facilities designed to house employees and contractors near work sites.

Civeo’s services include room accommodations, food services, housekeeping, facility management, logistics and transportation support. Its facilities are used by customers in sectors such as oil and gas, mining, and infrastructure development, where temporary or long-term workforce housing is needed.

Headquartered in Houston, Texas, Civeo serves customers primarily in Canada, Australia and the United States.