Civeo (NYSE:CVEO) Posts Earnings Results, Misses Expectations By $0.22 EPS

Key Points

• Civeo reported a quarterly earnings per share (EPS) of ($0.25), missing the consensus estimate of $0.08 by ($0.33), marking a decline from the prior year’s EPS of $0.57.
• The company's stock increased by 2.3% following the earnings report, and shares opened at $24.62 with a market capitalization of $331.14 million.
• Empowered Funds LLC raised its stake in Civeo by 5.5% in the first quarter, while institutional investors own approximately 81.44% of the company’s stock.

Civeo (NYSE:CVEO - Get Free Report) posted its earnings results on Tuesday. The business services provider reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.22), Zacks reports. Civeo had a negative net margin of 5.25% and a negative return on equity of 12.76%. The business had revenue of $162.69 million for the quarter, compared to analysts' expectations of $166.38 million. During the same period last year, the business posted $0.57 EPS. Civeo updated its FY 2025 guidance to EPS.

Civeo Stock Performance

NYSE:CVEO traded down $1.16 during midday trading on Friday, reaching $23.83. The stock had a trading volume of 96,834 shares, compared to its average volume of 95,435. Civeo has a 12-month low of $18.01 and a 12-month high of $28.92. The company has a quick ratio of 1.59, a current ratio of 1.51 and a debt-to-equity ratio of 0.81. The firm has a fifty day simple moving average of $23.12 and a two-hundred day simple moving average of $22.47. The stock has a market cap of $320.51 million, a P/E ratio of -9.81 and a beta of 1.36.

Institutional Investors Weigh In On Civeo

An institutional investor recently bought a new position in Civeo stock. Goldman Sachs Group Inc. purchased a new position in shares of Civeo Corporation (NYSE:CVEO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,858 shares of the business services provider's stock, valued at approximately $204,000. Goldman Sachs Group Inc. owned about 0.07% of Civeo as of its most recent SEC filing. 81.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wall Street Zen cut shares of Civeo from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Stifel Nicolaus lowered their target price on shares of Civeo from $28.00 to $27.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd.

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.