Zacks: Analysts Expect Civeo Co. (NYSE:CVEO) Will Post Quarterly Sales of $132.75 Million

Wall Street brokerages expect that Civeo Co. (NYSE:CVEO) will report $132.75 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Civeo’s earnings, with estimates ranging from $129.20 million to $136.30 million. Civeo reported sales of $114.70 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.7%. The firm is expected to announce its next quarterly earnings report on Wednesday, August 4th.

According to Zacks, analysts expect that Civeo will report full year sales of $554.96 million for the current fiscal year, with estimates ranging from $539.90 million to $570.01 million. For the next fiscal year, analysts expect that the business will post sales of $605.45 million, with estimates ranging from $579.30 million to $631.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Civeo.

Civeo (NYSE:CVEO) last issued its earnings results on Thursday, April 29th. The business services provider reported ($0.70) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.14). The business had revenue of $125.43 million during the quarter, compared to the consensus estimate of $125.30 million. Civeo had a return on equity of 2.37% and a net margin of 0.45%.

Separately, Zacks Investment Research downgraded Civeo from a “hold” rating to a “sell” rating in a report on Wednesday, July 7th.

Hedge funds have recently bought and sold shares of the business. KBC Group NV purchased a new position in Civeo in the first quarter worth $28,000. Berman Capital Advisors LLC purchased a new position in shares of Civeo during the 4th quarter valued at $59,000. JPMorgan Chase & Co. lifted its position in shares of Civeo by 42.5% during the 1st quarter. JPMorgan Chase & Co. now owns 6,304 shares of the business services provider’s stock valued at $97,000 after buying an additional 1,880 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Civeo during the 4th quarter valued at $150,000. Finally, Adalta Capital Management LLC purchased a new position in shares of Civeo during the 1st quarter valued at $153,000. 57.68% of the stock is currently owned by institutional investors and hedge funds.

CVEO stock traded down $0.58 during mid-day trading on Friday, reaching $19.65. The company’s stock had a trading volume of 800 shares, compared to its average volume of 37,933. The company has a market capitalization of $280.80 million, a P/E ratio of -144.78 and a beta of 3.81. Civeo has a 12 month low of $5.77 and a 12 month high of $20.67. The business’s 50 day moving average price is $17.86. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.92 and a current ratio of 0.98.

Civeo Company Profile

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, and the United States. The company develops lodges and villages; and mobile accommodations, including modular, skid-mounted accommodation, and central facilities that provide long-term and temporary work force accommodations.

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