Civeo Co. to Post Q2 2024 Earnings of ($0.05) Per Share, Sidoti Csr Forecasts (NYSE:CVEO)

Civeo Co. (NYSE:CVEO) – Investment analysts at Sidoti Csr lowered their Q2 2024 earnings per share estimates for Civeo in a research report issued to clients and investors on Monday, April 29th. Sidoti Csr analyst S. Ferazani now forecasts that the business services provider will post earnings of ($0.05) per share for the quarter, down from their previous forecast of $0.13. The consensus estimate for Civeo’s current full-year earnings is $0.14 per share. Sidoti Csr also issued estimates for Civeo’s Q4 2024 earnings at ($0.28) EPS, Q1 2025 earnings at ($0.12) EPS and Q4 2025 earnings at ($0.14) EPS.

Civeo (NYSE:CVEO) last issued its earnings results on Thursday, February 29th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.33. Civeo had a return on equity of 3.53% and a net margin of 4.49%. The firm had revenue of $170.80 million for the quarter, compared to analyst estimates of $151.12 million.

A number of other equities analysts have also weighed in on the company. Stifel Nicolaus upped their target price on Civeo from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com cut Civeo from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

Civeo Stock Performance

NYSE:CVEO opened at $24.09 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.74 and a current ratio of 1.82. Civeo has a 52-week low of $17.98 and a 52-week high of $28.00. The firm has a market cap of $352.20 million, a price-to-earnings ratio of 11.42 and a beta of 2.21. The business’s fifty day moving average is $25.17 and its 200 day moving average is $23.18.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CVEO. Wellington Management Group LLP raised its stake in shares of Civeo by 10.2% in the third quarter. Wellington Management Group LLP now owns 446,000 shares of the business services provider’s stock worth $9,246,000 after purchasing an additional 41,300 shares during the last quarter. FMR LLC grew its holdings in shares of Civeo by 4.5% in the third quarter. FMR LLC now owns 1,206,052 shares of the business services provider’s stock worth $25,001,000 after acquiring an additional 51,400 shares during the period. Brown Advisory Inc. grew its holdings in shares of Civeo by 21.3% in the third quarter. Brown Advisory Inc. now owns 315,719 shares of the business services provider’s stock worth $6,545,000 after acquiring an additional 55,534 shares during the period. Sapient Capital LLC bought a new stake in shares of Civeo in the fourth quarter worth $398,000. Finally, Bailard Inc. bought a new stake in shares of Civeo in the third quarter worth $218,000. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Insider Activity at Civeo

In other Civeo news, SVP Peter Mccann sold 5,220 shares of Civeo stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $23.75, for a total transaction of $123,975.00. Following the completion of the transaction, the senior vice president now owns 45,395 shares in the company, valued at $1,078,131.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is currently owned by company insiders.

Civeo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, May 27th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.15%. The ex-dividend date is Thursday, May 23rd. Civeo’s dividend payout ratio is presently 47.39%.

About Civeo

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 assets, including modular, skid-mounted accommodation, and central facilities that provide short to medium-term accommodation needs.