Sidoti Issues Negative Forecast for Civeo Earnings

Key Points

• Sidoti cut its Q2 2027 EPS forecast for Civeo to $0.29 from $0.42 and also projects Q3 EPS of $0.47, while the consensus full-year estimate sits at a loss of ($0.70) per share.
• Despite the analyst downgrade, Civeo recently reported a quarterly EPS of ($0.34), beating consensus of ($0.61) and delivering $172.7 million in revenue versus estimates of $154.7 million.
• Stifel Nicolaus raised its price target to $37 and gave a Buy rating, though the street consensus remains a Hold with a $37 consensus price target.

Civeo Corporation (NYSE:CVEO - Free Report) - Investment analysts at Sidoti reduced their Q2 2027 earnings per share (EPS) estimates for shares of Civeo in a report released on Monday, May 4th. Sidoti analyst S. Ferazani now forecasts that the business services provider will post earnings of $0.29 per share for the quarter, down from their prior forecast of $0.42. The consensus estimate for Civeo's current full-year earnings is ($0.70) per share. Sidoti also issued estimates for Civeo's Q3 2027 earnings at $0.47 EPS.

Civeo (NYSE:CVEO - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The business services provider reported ($0.34) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.61) by $0.27. The business had revenue of $172.67 million for the quarter, compared to the consensus estimate of $154.70 million. Civeo had a negative return on equity of 7.72% and a negative net margin of 2.10%.

Separately, Stifel Nicolaus upped their target price on Civeo from $33.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $37.00.

Civeo Trading Down 1.3%

Civeo stock opened at $30.80 on Tuesday. The stock has a 50-day moving average price of $28.55 and a 200 day moving average price of $25.40. The company has a market capitalization of $337.06 million, a price-to-earnings ratio of -25.88 and a beta of 0.73. The company has a quick ratio of 1.81, a current ratio of 1.88 and a debt-to-equity ratio of 1.32. Civeo has a 52 week low of $18.66 and a 52 week high of $34.80.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new stake in Civeo during the fourth quarter worth $2,290,000. Millennium Management LLC raised its position in Civeo by 217.7% in the third quarter. Millennium Management LLC now owns 128,810 shares of the business services provider's stock valued at $2,963,000 after purchasing an additional 88,267 shares during the period. Blue Owl Capital Holdings LP lifted its stake in shares of Civeo by 16.7% in the 4th quarter. Blue Owl Capital Holdings LP now owns 370,530 shares of the business services provider's stock valued at $8,474,000 after purchasing an additional 53,119 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Civeo by 38.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 189,057 shares of the business services provider's stock worth $4,324,000 after purchasing an additional 52,660 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of Civeo during the 3rd quarter worth $1,045,000. 81.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Civeo

In related news, major shareholder Engine Capital Management, Lp sold 9,169 shares of the firm's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $29.03, for a total transaction of $266,176.07. Following the completion of the sale, the insider directly owned 65,461 shares in the company, valued at approximately $1,900,332.83. This trade represents a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Peter Mccann sold 4,000 shares of Civeo stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $28.64, for a total transaction of $114,560.00. Following the transaction, the senior vice president directly owned 50,942 shares in the company, valued at $1,458,978.88. This trade represents a 7.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 430,184 shares of company stock valued at $12,390,768 in the last three months. 6.50% of the stock is currently owned by insiders.

About Civeo

Civeo Corporation is a leading provider of workforce accommodations and integrated facility management services, primarily serving the oil and gas, mining, and construction sectors. The company specializes in the development, ownership, and operation of remote lodging facilities, commonly known as “man camps,” designed to house workers in geographically challenging environments. Its services include turnkey accommodations, catering, housekeeping, grounds maintenance, and logistical support, tailored to meet the needs of large-scale energy and resource projects.

With a network of lodges and villages across North America and Australia, Civeo caters to clients operating in regions such as Alberta's oil sands, the Bakken shale play, and Australia's Pilbara and Bowen Basin mining districts.

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