Civeo (NYSE:CVEO) Rating Lowered to Sell at Wall Street Zen

Civeo (NYSE:CVEO) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Civeo in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $27.00.

Civeo Stock Down 1.0%

Shares of NYSE:CVEO opened at $22.12 on Friday. Civeo has a fifty-two week low of $18.01 and a fifty-two week high of $28.23. The company has a quick ratio of 1.45, a current ratio of 1.51 and a debt-to-equity ratio of 0.81. The firm’s 50-day simple moving average is $23.15 and its 200-day simple moving average is $22.28. The company has a market cap of $277.63 million, a price-to-earnings ratio of -9.10 and a beta of 1.20.

Civeo (NYSE:CVEO) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.22). The firm had revenue of $162.69 million for the quarter, compared to analysts’ expectations of $166.38 million. Civeo had a negative return on equity of 12.76% and a negative net margin of 5.25%.During the same period in the prior year, the company earned $0.57 earnings per share. Civeo has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Civeo will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Civeo

A number of hedge funds and other institutional investors have recently modified their holdings of CVEO. Engine Capital Management LP purchased a new stake in shares of Civeo during the 1st quarter worth approximately $30,777,000. TCW Group Inc. raised its holdings in Civeo by 2.0% during the first quarter. TCW Group Inc. now owns 795,845 shares of the business services provider’s stock worth $18,304,000 after purchasing an additional 15,628 shares during the last quarter. American Century Companies Inc. raised its holdings in Civeo by 7.4% during the second quarter. American Century Companies Inc. now owns 470,826 shares of the business services provider’s stock worth $10,871,000 after purchasing an additional 32,452 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in Civeo by 34.0% during the first quarter. Bridgeway Capital Management LLC now owns 253,973 shares of the business services provider’s stock worth $5,841,000 after purchasing an additional 64,470 shares in the last quarter. Finally, Topline Capital Management LLC grew its holdings in Civeo by 3.7% in the first quarter. Topline Capital Management LLC now owns 212,823 shares of the business services provider’s stock valued at $4,895,000 after purchasing an additional 7,577 shares during the last quarter. 81.44% of the stock is currently owned by institutional investors and hedge funds.

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.