Analysts Offer Predictions for Civeo FY2028 Earnings

Key Points

• Sidoti projects Civeo will earn $0.83 per share in FY2028, compared with the current full-year consensus estimate of a $1.00-per-share loss.
• Civeo’s latest quarterly results exceeded expectations, with EPS of $0.50 versus the $0.27-per-share loss analysts expected and revenue of $193.1 million, above the $174.05 million consensus.
• Analyst sentiment is broadly positive: Civeo has a “Moderate Buy” consensus rating and a $42.25 average price target, while institutional investors own 81.44% of the stock.

Civeo Corporation (NYSE:CVEO - Free Report) - Analysts at Sidoti issued their FY2028 EPS estimates for Civeo in a research note issued to investors on Monday, November 2nd. Sidoti analyst S. Ferazani anticipates that the business services provider will earn $0.83 per share for the year. The consensus estimate for Civeo's current full-year earnings is ($1.00) per share.

CVEO has been the topic of several other reports. Northland Securities started coverage on Civeo in a report on Thursday, October 1st. They set an "outperform" rating and a $42.00 price objective on the stock. Roth Capital initiated coverage on Civeo in a research note on Thursday, October 1st. They issued a "buy" rating and a $39.00 target price on the stock. Raymond James Financial cut Civeo from a "strong-buy" rating to a "buy" rating in a research report on Thursday, October 1st. Finally, Weiss Ratings upgraded shares of Civeo from a "sell (d-)" rating to a "sell (d)" rating in a report on Monday, August 31st. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.25.

Civeo Price Performance

CVEO opened at $36.07 on Tuesday. The company has a fifty day simple moving average of $32.31 and a 200 day simple moving average of $31.05. The company has a current ratio of 1.89, a quick ratio of 1.81 and a debt-to-equity ratio of 1.31. The firm has a market cap of $372.95 million, a price-to-earnings ratio of -57.25 and a beta of 0.71. Civeo has a twelve month low of $20.94 and a twelve month high of $38.06.

Civeo (NYSE:CVEO - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The business services provider reported $0.50 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.77. The company had revenue of $193.10 million for the quarter, compared to analyst estimates of $174.05 million. Civeo had a negative return on equity of 7.82% and a negative net margin of 1.93%.

Institutional Trading of Civeo

Several institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP acquired a new position in Civeo in the 2nd quarter worth about $217,000. OMERS ADMINISTRATION Corp bought a new position in Civeo in the 1st quarter worth $217,000. Bank of New York Mellon Corp bought a new position in shares of Civeo in the second quarter worth about $1,032,000. Sei Investments Co. grew its holdings in Civeo by 104.2% in 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake 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 purchasing an additional 13,564 shares during the last quarter. 81.44% of the stock is currently owned by institutional investors and hedge funds.

About Civeo

Civeo Corporation is a provider of workforce accommodations and related services for the natural resources and other industries that operate in remote locations. The company develops, owns and operates workforce villages, lodges and other lodging facilities designed to house employees and contractors near work sites.

Civeo's services include room accommodations, food services, housekeeping, facility management, logistics and transportation support. Its facilities are used by customers in sectors such as oil and gas, mining, and infrastructure development, where temporary or long-term workforce housing is needed.

Headquartered in Houston, Texas, Civeo serves customers primarily in Canada, Australia and the United States.

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