Civeo Co. Expected to Post Q3 2024 Earnings of $0.16 Per Share (NYSE:CVEO)

Civeo Co. (NYSE:CVEO) – Equities researchers at Sidoti Csr reduced their Q3 2024 earnings per share estimates for shares of Civeo in a note issued to investors on Monday, April 29th. Sidoti Csr analyst S. Ferazani now expects that the business services provider will post earnings per share of $0.16 for the quarter, down from their previous forecast of $0.20. The consensus estimate for Civeo’s current full-year earnings is $0.14 per share. Sidoti Csr also issued estimates for Civeo’s Q2 2025 earnings at $0.37 EPS, Q3 2025 earnings at $0.35 EPS and FY2025 earnings at $0.46 EPS.

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

A number of other equities research analysts have also weighed in on the company. StockNews.com lowered Civeo from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Stifel Nicolaus lifted their price target on Civeo from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday.

Civeo Price Performance

Shares of CVEO stock opened at $23.27 on Wednesday. The firm has a market cap of $340.21 million, a P/E ratio of 11.03 and a beta of 2.17. Civeo has a fifty-two week low of $17.98 and a fifty-two week high of $28.00. The business’s 50 day moving average price is $25.14 and its 200-day moving average price is $23.17. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.74 and a current ratio of 1.82.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CVEO. Wellington Management Group LLP raised its stake in shares of Civeo by 10.2% in the third quarter. Wellington Management Group LLP now owns 446,000 shares of the business services provider’s stock worth $9,246,000 after purchasing an additional 41,300 shares during the last quarter. FMR LLC raised its stake in shares of 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 last quarter. Brown Advisory Inc. raised its stake in shares of Civeo by 21.3% in the third quarter. Brown Advisory Inc. now owns 315,719 shares of the business services provider’s stock worth $6,545,000 after purchasing an additional 55,534 shares during the last quarter. Sapient Capital LLC purchased a new position in shares of Civeo in the fourth quarter worth $398,000. Finally, Bailard Inc. purchased a new stake in Civeo during the third quarter valued at $218,000. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Civeo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, May 27th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Thursday, May 23rd. Civeo’s payout ratio is 47.39%.

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.