Sidoti Comments on Civeo’s FY2028 Earnings (NYSE:CVEO)

Civeo Corporation (NYSE:CVEO) – Equities research analysts at Sidoti issued their FY2028 earnings per share estimates for Civeo in a research report issued to clients and investors on Monday, November 2nd. Sidoti analyst S. Ferazani expects that the business services provider will post earnings of $0.83 per share for the year. The consensus estimate for Civeo’s current full-year earnings is ($1.00) per share.

Civeo (NYSE:CVEO) last issued its quarterly earnings results on Thursday, October 29th. The business services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.77. The business had revenue of $193.10 million for the quarter, compared to the consensus estimate of $174.05 million. Civeo had a negative net margin of 1.93% and a negative return on equity of 7.82%.

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

Civeo Trading Up 0.3%

Shares of NYSE CVEO opened at $36.07 on Tuesday. Civeo has a 1-year low of $20.94 and a 1-year high of $38.06. The company has a 50-day moving average of $32.31 and a two-hundred day moving average of $31.05. The company has a market cap of $372.95 million, a PE ratio of -57.25 and a beta of 0.71. The company has a current ratio of 1.89, a quick ratio of 1.81 and a debt-to-equity ratio of 1.31.

Hedge Funds Weigh In On Civeo

A number of hedge funds and other institutional investors have recently made changes to their positions in CVEO. Sei Investments Co. grew its stake in Civeo by 104.2% in the first quarter. Sei Investments Co. now owns 71,487 shares of the business services provider’s stock valued at $1,892,000 after acquiring an additional 36,487 shares during the period. Bank of New York Mellon Corp bought a new position in Civeo in the second quarter valued at approximately $1,032,000. Arrowstreet Capital Limited Partnership lifted its stake in Civeo by 12.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 126,478 shares of the business services provider’s stock valued at $3,347,000 after buying an additional 13,564 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Civeo by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 639,272 shares of the business services provider’s stock valued at $16,915,000 after buying an additional 11,114 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Civeo in the first quarter valued at approximately $217,000. 81.44% of the stock is owned by institutional investors.

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.