Civeo Co. (NYSE:CVEO) to Post Q2 2024 Earnings of ($0.05) Per Share, Sidoti Csr Forecasts

Civeo Co. (NYSE:CVEO) – Stock analysts at Sidoti Csr cut their Q2 2024 earnings per share (EPS) estimates for shares of Civeo in a research report issued to clients and 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 $0.47 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.

Civeo (NYSE:CVEO) last released its earnings results on Thursday, February 29th. The business services provider reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.33. Civeo had a return on equity of 3.53% and a net margin of 4.49%. The firm had revenue of $170.80 million during the quarter, compared to the consensus estimate of $151.12 million.

A number of other brokerages have also recently issued reports on CVEO. StockNews.com cut Civeo from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Stifel Nicolaus upped their target price on Civeo from $30.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday.

Civeo Price Performance

Shares of CVEO stock opened at $24.20 on Thursday. The company has a quick ratio of 1.74, a current ratio of 1.82 and a debt-to-equity ratio of 0.26. Civeo has a twelve month low of $17.98 and a twelve month high of $28.00. The company has a market cap of $353.80 million, a P/E ratio of 11.47 and a beta of 2.21. The business has a fifty day simple moving average of $25.21 and a 200 day simple moving average of $23.19.

Institutional Trading of Civeo

Hedge funds have recently modified their holdings of the stock. FMR LLC grew its holdings in Civeo by 4.5% in the third 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 period. TCW Group Inc. grew its stake in shares of Civeo by 3.1% in the 4th quarter. TCW Group Inc. now owns 744,535 shares of the business services provider’s stock valued at $17,013,000 after buying an additional 22,639 shares during the period. Wellington Management Group LLP increased its position 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 valued at $10,285,000 after buying an additional 4,100 shares in the last quarter. Brown Advisory Inc. raised its stake in Civeo by 13.4% during the 4th quarter. Brown Advisory Inc. now owns 358,097 shares of the business services provider’s stock worth $8,183,000 after buying an additional 42,378 shares during the period. Finally, Punch & Associates Investment Management Inc. boosted its holdings in Civeo by 3.2% in the third quarter. Punch & Associates Investment Management Inc. now owns 317,823 shares of the business services provider’s stock worth $6,588,000 after acquiring an additional 9,800 shares in the last quarter. Institutional investors own 81.44% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Peter Mccann sold 5,220 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $23.75, for a total value of $123,975.00. Following the transaction, the senior vice president now directly owns 45,395 shares of the company’s stock, valued at approximately $1,078,131.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.30% of the company’s stock.

Civeo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, May 27th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, May 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.13%. Civeo’s dividend payout ratio (DPR) is currently 47.39%.

About Civeo

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.