Civeo Corporation (NYSE:CVEO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Civeo Corporation (NYSE:CVEO) have been given an average recommendation of “Moderate Buy” by the six analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $42.25.

Several equities research analysts have recently commented on CVEO shares. Northland Securities started coverage on Civeo in a report on Thursday, October 1st. They set an “outperform” rating and a $42.00 target price for the company. Raymond James Financial lowered shares of Civeo from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 1st. Roth Capital started coverage on Civeo in a research note on Thursday, October 1st. They issued a “buy” rating and a $39.00 target price on the stock. Finally, Weiss Ratings raised Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 31st.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Clearstead Advisors LLC raised its position in shares of Civeo by 191.8% in the fourth quarter. Clearstead Advisors LLC now owns 1,538 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 1,011 shares during the period. Engineers Gate Manager LP bought a new position in shares of Civeo during the 2nd quarter worth about $217,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Civeo during the first quarter valued at about $217,000. Bank of New York Mellon Corp bought a new stake in shares of Civeo in the second quarter valued at about $1,032,000. Finally, Ritholtz Wealth Management lifted its stake in shares of Civeo by 9.4% in the first quarter. Ritholtz Wealth Management now owns 40,352 shares of the business services provider’s stock valued at $1,068,000 after buying an additional 3,470 shares during the period. 81.44% of the stock is owned by institutional investors.

Civeo Price Performance

Shares of Civeo stock opened at $31.88 on Thursday. The company has a current ratio of 1.89, a quick ratio of 1.81 and a debt-to-equity ratio of 1.31. The company’s 50-day moving average price is $33.12 and its two-hundred day moving average price is $32.36. Civeo has a 52 week low of $19.75 and a 52 week high of $36.50. The stock has a market cap of $329.59 million, a PE ratio of -27.24 and a beta of 0.71.

Civeo (NYSE:CVEO) last issued its quarterly earnings results on Thursday, July 30th. The business services provider reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.07. Civeo had a negative net margin of 1.93% and a negative return on equity of 7.82%. The company had revenue of $180.02 million during the quarter, compared to the consensus estimate of $172.18 million. As a group, sell-side analysts anticipate that Civeo will post -1 EPS for the current fiscal year.

About Civeo

Civeo Corporation (NYSE: CVEO) provides workforce accommodations and hospitality services for companies operating in remote and resource-intensive locations. Its customers primarily include energy, mining and infrastructure companies that require lodging, dining and related support services for employees and contractors.

The company operates lodges, villages and mobile workforce camps, offering furnished rooms, catering, housekeeping, facility management, maintenance, transportation and other site services.