StockNews.com Downgrades Civeo (NYSE:CVEO) to Buy

by · The Cerbat Gem

StockNews.com cut shares of Civeo (NYSE:CVEO – Free Report) from a strong-buy rating to a buy rating in a report issued on Sunday morning.

Civeo Stock Performance

NYSE CVEO opened at $22.72 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. Civeo has a twelve month low of $21.15 and a twelve month high of $28.92. The business has a 50-day moving average price of $24.14 and a 200-day moving average price of $25.59. The firm has a market cap of $312.92 million, a price-to-earnings ratio of 16.23 and a beta of 2.04.

Civeo (NYSE:CVEO – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.38). The business had revenue of $176.34 million during the quarter, compared to the consensus estimate of $172.59 million. Civeo had a return on equity of 0.11% and a net margin of 3.00%. During the same quarter in the previous year, the company earned $0.61 earnings per share. As a group, equities research analysts predict that Civeo will post -0.58 EPS for the current fiscal year.

Civeo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 25th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.40%. Civeo’s payout ratio is 71.43%.

Institutional Trading of Civeo

Several hedge funds have recently modified their holdings of CVEO. Quantbot Technologies LP purchased a new stake in shares of Civeo during the 3rd quarter valued at about $68,000. Quent Capital LLC bought a new stake in Civeo during the third quarter worth approximately $100,000. State Street Corp purchased a new stake in Civeo during the third quarter valued at approximately $222,000. XTX Topco Ltd bought a new stake in shares of Civeo in the 3rd quarter valued at approximately $231,000. Finally, Aristides Capital LLC bought a new stake in shares of Civeo in the 2nd quarter valued at approximately $213,000. 81.44% of the stock is owned by hedge funds and other institutional investors.

Civeo Company Profile

(Get Free Report)

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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