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 quarterly earnings results on Tuesday. The business services provider reported ($0.25) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $166.38 million. During the same quarter in the previous year, the business posted $0.57 EPS. Civeo updated its FY 2025 guidance to EPS.

Civeo Stock Down 4.6%

NYSE:CVEO traded down $1.16 during trading hours on Friday, hitting $23.83. The stock had a trading volume of 96,834 shares, compared to its average volume of 61,538. The company has a current ratio of 1.51, a quick ratio of 1.59 and a debt-to-equity ratio of 0.81. Civeo has a 1-year low of $18.01 and a 1-year high of $28.92. The business has a 50 day simple moving average of $23.18 and a two-hundred day simple moving average of $22.47. The company has a market cap of $299.07 million, a PE ratio of -9.81 and a beta of 1.28.

Institutional Trading of Civeo

An institutional investor recently bought a new position in Civeo stock. Goldman Sachs Group Inc. acquired a new stake in 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 (SEC). The firm acquired 8,858 shares of the business services provider's stock, valued at approximately $204,000. Goldman Sachs Group Inc. owned approximately 0.07% of Civeo as of its most recent SEC filing. Hedge funds and other institutional investors own 81.44% of the company's stock.

Wall Street Analyst Weigh In

CVEO has been the topic of several research reports. Wall Street Zen lowered shares of Civeo from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Stifel Nicolaus cut their price target on shares of Civeo from $28.00 to $27.00 and set a "buy" rating on the stock in a 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.