Civeo (NYSE:CVEO) Earns Sell (D+) Rating from Weiss Ratings

Key Points

• Civeo's stock received a "sell (D+)" rating from Weiss Ratings, indicating a negative outlook from investment analysts.
• The company's quarterly earnings report showed a loss of ($0.25) EPS, which missed the consensus estimate substantially.
• Despite the downturn in ratings, Civeo's stock price rose by 0.6% to $23.42 during trading, reflecting some investor interest amidst the negative ratings.

Civeo (NYSE:CVEO - Get Free Report)'s stock had its "sell (d+)" rating reiterated by investment analysts at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

A number of other brokerages have also issued reports on CVEO. Zacks Research lowered Civeo from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 15th. Wall Street Zen lowered Civeo from a "hold" rating to a "sell" rating in a research report on Saturday, October 4th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $27.00.

Civeo Stock Up 0.6%

NYSE:CVEO traded up $0.15 during mid-day trading on Friday, hitting $23.42. The company had a trading volume of 51,426 shares, compared to its average volume of 78,105. The business has a fifty day simple moving average of $22.58 and a 200-day simple moving average of $22.22. The company has a current ratio of 1.51, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. Civeo has a 1 year low of $18.01 and a 1 year high of $28.23. The firm has a market capitalization of $293.87 million, a price-to-earnings ratio of -9.64 and a beta of 1.20.

Civeo (NYSE:CVEO - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.22). Civeo had a negative net margin of 5.25% and a negative return on equity of 12.76%. The company had revenue of $162.69 million during the quarter, compared to analysts' expectations of $166.38 million. During the same period last year, the business earned $0.57 earnings per share. Civeo has set its FY 2025 guidance at EPS. Equities analysts forecast that Civeo will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Civeo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wyoming acquired a new position in Civeo in the second quarter valued at approximately $66,000. Goldman Sachs Group Inc. acquired a new position in Civeo in the first quarter valued at approximately $204,000. XTX Topco Ltd acquired a new position in Civeo in the second quarter valued at approximately $255,000. Clough Capital Partners L P acquired a new position in Civeo in the first quarter valued at approximately $728,000. Finally, Ritholtz Wealth Management acquired a new position in Civeo in the second quarter valued at approximately $748,000. 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.

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