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

Civeo (NYSE:CVEO) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

Civeo Trading Down 2.1 %

Shares of Civeo stock opened at $22.87 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. The firm has a market cap of $314.92 million, a price-to-earnings ratio of 16.34 and a beta of 2.03. Civeo has a twelve month low of $21.44 and a twelve month high of $28.92. The business has a 50-day moving average price of $25.50 and a 200-day moving average price of $25.75.

Civeo (NYSE:CVEO) last released 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 firm had revenue of $176.34 million for the quarter, compared to analysts’ expectations of $172.59 million. Civeo had a net margin of 3.00% and a return on equity of 0.11%. During the same quarter in the prior year, the business earned $0.61 EPS. Equities research analysts anticipate that Civeo will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Civeo

Large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new position in shares of Civeo during the 3rd quarter valued at approximately $68,000. Quent Capital LLC bought a new position in Civeo during the third quarter valued at $100,000. SG Americas Securities LLC purchased a new stake in shares of Civeo in the second quarter valued at $128,000. Aristides Capital LLC bought a new stake in shares of Civeo in the 2nd quarter worth about $213,000. Finally, State Street Corp purchased a new position in shares of Civeo during the 3rd quarter worth about $222,000. 81.44% of the stock is owned by institutional investors.

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.