Equities Analysts Offer Predictions for Civeo Co.'s Q2 2024 Earnings (NYSE:CVEO)

Civeo Co. (NYSE:CVEO - Free Report) - Analysts at Sidoti Csr cut their Q2 2024 earnings estimates for shares of Civeo in a note issued to investors on Monday, April 29th. Sidoti Csr analyst S. Ferazani now forecasts that the business services provider will post earnings of ($0.05) per share for the quarter, down from their previous forecast of $0.13. The consensus estimate for Civeo's current full-year earnings is $0.14 per share. Sidoti Csr also issued estimates for Civeo's Q4 2024 earnings at ($0.28) EPS, Q1 2025 earnings at ($0.12) EPS and Q4 2025 earnings at ($0.14) EPS.

CVEO has been the topic of a number of other reports. Stifel Nicolaus lifted their price target on shares of Civeo from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday. StockNews.com lowered Civeo from a "strong-buy" rating to a "buy" rating in a report on Tuesday.

Civeo Trading Up 0.7 %

NYSE:CVEO traded up $0.18 during mid-day trading on Thursday, hitting $24.26. The company had a trading volume of 77,279 shares, compared to its average volume of 61,036. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.74 and a current ratio of 1.82. Civeo has a fifty-two week low of $17.98 and a fifty-two week high of $28.00. The firm has a market cap of $354.68 million, a P/E ratio of 11.50 and a beta of 2.21. The business's fifty day moving average is $25.21 and its two-hundred day moving average is $23.19.

Civeo (NYSE:CVEO - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The business services provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.33. Civeo had a net margin of 4.49% and a return on equity of 3.53%. The business had revenue of $170.80 million for the quarter, compared to analyst estimates of $151.12 million.

Civeo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, May 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Thursday, May 23rd. Civeo's payout ratio is 47.39%.

Insider Activity at Civeo

In other news, SVP Peter Mccann sold 5,220 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $23.75, for a total value of $123,975.00. Following the completion of the sale, the senior vice president now owns 45,395 shares of the company's stock, valued at approximately $1,078,131.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Civeo

Several institutional investors and hedge funds have recently modified their holdings of CVEO. FMR LLC lifted its holdings in Civeo by 4.5% during the 3rd quarter. FMR LLC now owns 1,206,052 shares of the business services provider's stock worth $25,001,000 after purchasing an additional 51,400 shares during the last quarter. TCW Group Inc. boosted its position in shares of Civeo by 3.1% in the fourth quarter. TCW Group Inc. now owns 744,535 shares of the business services provider's stock valued at $17,013,000 after acquiring an additional 22,639 shares during the period. Wellington Management Group LLP raised its stake in Civeo by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 450,100 shares of the business services provider's stock worth $10,285,000 after purchasing an additional 4,100 shares in the last quarter. Brown Advisory Inc. boosted its holdings in Civeo by 13.4% in the 4th quarter. Brown Advisory Inc. now owns 358,097 shares of the business services provider's stock valued at $8,183,000 after purchasing an additional 42,378 shares during the period. Finally, Punch & Associates Investment Management Inc. grew its position in shares of Civeo by 3.2% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 317,823 shares of the business services provider's stock worth $6,588,000 after purchasing an additional 9,800 shares in the last quarter. 81.44% of the stock is currently owned by institutional investors and hedge funds.

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.