Analysts Set Expectations for Civeo Co.’s Q2 2024 Earnings (NYSE:CVEO)

Civeo Co. (NYSE:CVEO) – Equities researchers at Sidoti Csr dropped 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 earn ($0.05) per share for the quarter, down from their prior estimate of $0.13. The consensus estimate for Civeo’s current full-year earnings is $0.47 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.

CVEO has been the subject of a number of other reports. StockNews.com cut shares of Civeo from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Stifel Nicolaus upped their target price on Civeo from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday.

Civeo Stock Down 0.2 %

Shares of NYSE:CVEO opened at $24.20 on Thursday. The company has a market cap of $353.80 million, a price-to-earnings ratio of 11.47 and a beta of 2.21. Civeo has a 12 month low of $17.98 and a 12 month high of $28.00. The company has a current ratio of 1.82, a quick ratio of 1.74 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $25.21 and a 200 day moving average price of $23.19.

Civeo (NYSE:CVEO) last posted its earnings results on Thursday, February 29th. The business services provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $151.12 million.

Civeo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, May 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.00 annualized dividend and a dividend yield of 4.13%. Civeo’s dividend payout ratio is currently 47.39%.

Insider Transactions at Civeo

In other Civeo news, SVP Peter Mccann sold 5,220 shares of the 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 sale, the senior vice president now owns 45,395 shares of the company’s stock, valued at approximately $1,078,131.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Civeo

Hedge funds have recently modified their holdings of the company. Quent Capital LLC purchased a new position in shares of Civeo in the first quarter worth $98,000. Janney Montgomery Scott LLC lifted its holdings in shares of Civeo by 8.9% during the first quarter. Janney Montgomery Scott LLC now owns 21,119 shares of the business services provider’s stock worth $567,000 after purchasing an additional 1,729 shares during the period. Quadrature Capital Ltd purchased a new stake in Civeo in the fourth quarter valued at approximately $529,000. Wellington Management Group LLP increased its holdings in Civeo by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 450,100 shares of the business services provider’s stock worth $10,285,000 after buying an additional 4,100 shares during the period. Finally, TCW Group Inc. raised its position in Civeo by 3.1% during the 4th quarter. TCW Group Inc. now owns 744,535 shares of the business services provider’s stock worth $17,013,000 after buying an additional 22,639 shares during the last quarter. 81.44% of the stock is owned by hedge funds and other institutional investors.

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