Civeo Corporation (NYSE:CVEO) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Civeo has a consensus “Moderate Buy” rating from six analysts, with three buys, one strong buy, one hold and one sell. The average 12-month price target is $42.25, above the reported share price of $32.65.
• Recent coverage included a $51 strong-buy target from Raymond James, a $42 outperform target from Northland Securities and a $39 buy target from Roth Capital.
• Civeo’s latest quarterly results beat expectations, reporting an adjusted loss of $0.23 per share versus the projected $0.30 loss and revenue of $180.02 million versus estimates of $172.18 million. Institutional investors own approximately 81.44% of the company.

Shares of Civeo Corporation (NYSE:CVEO - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $42.25.

A number of research firms recently weighed in on CVEO. Weiss Ratings raised shares of Civeo from a "sell (d-)" rating to a "sell (d)" rating in a research report on Monday, August 31st. Raymond James Financial initiated coverage on Civeo in a research report on Tuesday, August 4th. They set a "strong-buy" rating and a $51.00 target price for the company. Northland Securities initiated coverage on Civeo in a research note on Thursday. They set an "outperform" rating and a $42.00 target price on the stock. Finally, Roth Capital started coverage on Civeo in a report on Thursday. They issued a "buy" rating and a $39.00 price target on the stock.

Civeo Trading Up 0.8%

CVEO stock opened at $32.65 on Thursday. Civeo has a twelve month low of $19.75 and a twelve month high of $36.50. The stock has a market capitalization of $337.62 million, a price-to-earnings ratio of -27.91 and a beta of 0.71. The company has a quick ratio of 1.81, a current ratio of 1.89 and a debt-to-equity ratio of 1.31. The firm's fifty day simple moving average is $33.26 and its two-hundred day simple moving average is $32.20.

Civeo (NYSE:CVEO - Get Free Report) last released its earnings results on Thursday, July 30th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $180.02 million during the quarter, compared to analyst estimates of $172.18 million. As a group, analysts anticipate that Civeo will post -0.83 earnings per share for the current year.

Institutional Trading of Civeo

Hedge funds and other institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP purchased a new stake in shares of Civeo during the second quarter valued at $217,000. Bank of New York Mellon Corp purchased a new position in Civeo in the 2nd quarter worth about $1,032,000. OMERS ADMINISTRATION Corp purchased a new position in Civeo in the 1st quarter worth about $217,000. Arrowstreet Capital Limited Partnership lifted its holdings in Civeo by 12.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 126,478 shares of the business services provider's stock valued at $3,347,000 after buying an additional 13,564 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in Civeo by 104.2% during the 1st quarter. Sei Investments Co. now owns 71,487 shares of the business services provider's stock valued at $1,892,000 after buying an additional 36,487 shares in the last quarter. Hedge funds and other institutional investors own 81.44% of the company's stock.

Civeo Company Profile

Civeo Corporation provides workforce accommodations and related hospitality services for companies operating in remote and challenging environments. Its customers primarily include businesses in the natural resources, mining, energy and infrastructure industries.

The company operates workforce villages, lodges and mobile camps, offering rooms and lodging along with catering, housekeeping, facility management, maintenance, transportation and other support services. These integrated services are designed to support employees working at remote project sites and production locations.

Civeo serves customers primarily in Australia and Canada, where it operates accommodations and provides hospitality services in resource-producing regions.

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