Civeo (CVEO) Issues Quarterly Earnings Results

Civeo (NYSE:CVEO) issued its earnings results on Wednesday. The business services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02), Fidelity Earnings reports. Civeo had a negative net margin of 29.08% and a negative return on equity of 21.58%. The business had revenue of $120.49 million for the quarter, compared to analysts’ expectations of $124.30 million. Civeo updated its Q4 2018 guidance to EPS and its FY 2018 guidance to EPS.

Shares of NYSE CVEO traded down $0.32 during midday trading on Thursday, hitting $2.53. 1,056,500 shares of the stock traded hands, compared to its average volume of 704,612. The stock has a market capitalization of $455.17 million, a price-to-earnings ratio of -3.83 and a beta of 4.18. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.55 and a quick ratio of 1.50. Civeo has a one year low of $1.87 and a one year high of $4.64.

Several analysts have commented on CVEO shares. Craig Hallum set a $4.00 target price on Civeo and gave the company a “buy” rating in a research note on Wednesday. TheStreet upgraded Civeo from a “d+” rating to a “c-” rating in a research note on Tuesday, August 28th. Royal Bank of Canada reiterated a “hold” rating and set a $4.50 target price on shares of Civeo in a research note on Wednesday, July 25th. ValuEngine upgraded Civeo from a “hold” rating to a “buy” rating in a research note on Thursday, September 27th. Finally, Stifel Nicolaus started coverage on Civeo in a research note on Monday, September 10th. They set a “buy” rating and a $5.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $4.50.

Civeo Company Profile

Civeo Corporation offers workforce accommodation, logistics, and facility management services to the natural resource industry in Canada, Australia, the United States, and internationally. The company develops lodges and villages; open camps; and mobile camps, including modular, skid-mounted accommodation, and central facilities that provide long-term and temporary work force accommodations.

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Earnings History for Civeo (NYSE:CVEO)

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