Civeo's (CVEO) Sell (D+) Rating Reiterated at Weiss Ratings

Key Points

• Analysts at Weiss Ratings have reiterated a "sell (D+)" rating for Civeo (CVEO), indicating ongoing concerns regarding the company's performance.
• Recently, Wall Street Zen downgraded Civeo from a "hold" to a "sell" rating, reflecting a pessimistic outlook with an average target price of $27.00.
• Civeo reported a quarterly loss of $0.25 EPS, significantly below the consensus estimate, alongside a revenue of $162.69 million, missing expectations by approximately $3.7 million.

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

Separately, Wall Street Zen downgraded Civeo from a "hold" rating to a "sell" rating in a report on Saturday. One 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 stock presently has an average rating of "Hold" and an average target price of $27.00.

Civeo Price Performance

CVEO stock traded down $0.35 during trading on Wednesday, hitting $21.41. The company had a trading volume of 78,782 shares, compared to its average volume of 65,776. The firm has a market capitalization of $268.70 million, a price-to-earnings ratio of -8.81 and a beta of 1.20. The business has a 50 day moving average of $23.00 and a 200 day moving average of $22.28. Civeo has a fifty-two week low of $18.01 and a fifty-two week high of $28.23. 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 (NYSE:CVEO - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $162.69 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $0.57 earnings per share. Civeo has set its FY 2025 guidance at EPS. As a group, research analysts predict that Civeo will post -0.58 earnings per share for the current year.

Institutional Trading of Civeo

A number of hedge funds and other institutional investors have recently made changes to their positions in CVEO. State of Wyoming acquired a new stake in Civeo in the 2nd quarter valued at approximately $66,000. Goldman Sachs Group Inc. acquired a new stake in Civeo in the 1st quarter valued at approximately $204,000. XTX Topco Ltd acquired a new stake in Civeo in the 2nd quarter valued at approximately $255,000. Clough Capital Partners L P acquired a new stake in Civeo in the 1st quarter valued at approximately $728,000. Finally, Ritholtz Wealth Management acquired a new stake in Civeo in the 2nd quarter valued at approximately $748,000. 81.44% of the stock is currently owned by institutional investors and hedge funds.

About Civeo

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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