Craig Hallum set a $4.00 price objective on Civeo (NYSE:CVEO) in a research note published on Wednesday morning. The brokerage currently has a buy rating on the business services provider’s stock.
CVEO has been the subject of several other research reports. Stifel Nicolaus started coverage on shares of Civeo in a research report on Monday, September 10th. They set a buy rating and a $5.00 price target for the company. ValuEngine raised shares of Civeo from a hold rating to a buy rating in a research report on Thursday, September 27th. Royal Bank of Canada reaffirmed a hold rating and set a $4.50 price target on shares of Civeo in a research report on Wednesday, July 25th. Finally, TheStreet raised shares of Civeo from a d+ rating to a c- rating in a research report on Tuesday, August 28th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Civeo has a consensus rating of Buy and a consensus price target of $4.50.
NYSE:CVEO opened at $2.52 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.53 and a quick ratio of 1.50. Civeo has a 1-year low of $1.87 and a 1-year high of $4.64.
Civeo (NYSE:CVEO) last posted its quarterly earnings data on Wednesday, October 31st. The business services provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The firm had revenue of $120.49 million during the quarter, compared to analyst estimates of $124.30 million. Civeo had a negative net margin of 25.69% and a negative return on equity of 20.55%. As a group, analysts anticipate that Civeo will post -0.28 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of CVEO. Dimensional Fund Advisors LP increased its position in Civeo by 33.0% during the first quarter. Dimensional Fund Advisors LP now owns 4,179,266 shares of the business services provider’s stock worth $15,756,000 after purchasing an additional 1,037,847 shares during the last quarter. Renaissance Technologies LLC increased its position in Civeo by 10.5% during the second quarter. Renaissance Technologies LLC now owns 9,348,600 shares of the business services provider’s stock worth $40,760,000 after purchasing an additional 888,900 shares during the last quarter. Millennium Management LLC increased its position in Civeo by 79.6% during the first quarter. Millennium Management LLC now owns 1,674,067 shares of the business services provider’s stock worth $6,311,000 after purchasing an additional 742,190 shares during the last quarter. 22NW LP increased its position in Civeo by 71.6% during the second quarter. 22NW LP now owns 703,122 shares of the business services provider’s stock worth $3,066,000 after purchasing an additional 293,487 shares during the last quarter. Finally, Spark Investment Management LLC acquired a new position in Civeo during the second quarter worth approximately $1,208,000. 65.71% of the stock is owned by hedge funds and other institutional investors.
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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