Sidoti Csr Comments on Civeo’s FY2024 Earnings (NYSE:CVEO)

Civeo Co. (NYSE:CVEO) – Analysts at Sidoti Csr lowered their FY2024 earnings estimates for Civeo in a report released on Thursday, October 31st. Sidoti Csr analyst S. Ferazani now expects that the business services provider will earn ($0.58) per share for the year, down from their prior forecast of ($0.36). The consensus estimate for Civeo’s current full-year earnings is ($0.36) per share. Sidoti Csr also issued estimates for Civeo’s Q4 2024 earnings at ($0.53) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.04 EPS and Q4 2025 earnings at ($0.25) EPS.

Civeo (NYSE:CVEO) last released its earnings results on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.38). Civeo had a return on equity of 0.11% and a net margin of 3.00%. The company had revenue of $176.34 million during the quarter, compared to analysts’ expectations of $172.59 million. During the same quarter in the previous year, the company earned $0.61 EPS.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus reiterated a “buy” rating and set a $32.00 price target (up from $31.00) on shares of Civeo in a report on Wednesday, July 31st. StockNews.com downgraded shares of Civeo from a “strong-buy” rating to a “buy” rating in a research report on Friday.

Civeo Price Performance

CVEO opened at $25.51 on Monday. The stock has a fifty day moving average price of $27.65 and a 200 day moving average price of $25.87. The company has a current ratio of 1.36, a quick ratio of 1.46 and a debt-to-equity ratio of 0.18. Civeo has a 1 year low of $20.58 and a 1 year high of $28.92. The stock has a market cap of $351.27 million, a price-to-earnings ratio of 18.22 and a beta of 2.06.

Civeo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 25th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.92%. Civeo’s dividend payout ratio is currently 71.43%.

Insider Transactions at Civeo

In related news, SVP Allan Schoening sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $27.50, for a total value of $137,500.00. Following the transaction, the senior vice president now directly owns 16,146 shares of the company’s stock, valued at approximately $444,015. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Civeo

Several hedge funds have recently added to or reduced their stakes in CVEO. Quent Capital LLC bought a new position in Civeo in the 3rd quarter worth approximately $100,000. SG Americas Securities LLC acquired a new stake in shares of Civeo in the second quarter worth $128,000. Aristides Capital LLC bought a new position in Civeo during the second quarter worth $213,000. Meixler Investment Management Ltd. acquired a new position in Civeo during the 1st quarter valued at $220,000. Finally, Lazard Asset Management LLC raised its stake in Civeo by 42.6% during the 1st quarter. Lazard Asset Management LLC now owns 10,773 shares of the business services provider’s stock valued at $289,000 after purchasing an additional 3,220 shares during the last quarter. Institutional investors own 81.44% of the company’s stock.

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.