Brokerages Anticipate Civeo Co. (NYSE:CVEO) to Post -$0.31 EPS

Brokerages expect Civeo Co. (NYSE:CVEOGet Rating) to announce ($0.31) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Civeo’s earnings. Civeo reported earnings of ($0.70) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 55.7%. The business is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Civeo will report full year earnings of $0.28 per share for the current financial year. For the next year, analysts anticipate that the firm will post earnings of $0.70 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Civeo.

Civeo (NYSE:CVEOGet Rating) last released its quarterly earnings results on Monday, February 28th. The business services provider reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.59. The business had revenue of $159.79 million during the quarter, compared to analysts’ expectations of $142.54 million. Civeo had a return on equity of 2.54% and a net margin of 0.23%. During the same period last year, the firm posted ($0.16) EPS.

A number of research firms have commented on CVEO. Zacks Investment Research upgraded Civeo from a “sell” rating to a “hold” rating in a research note on Wednesday, December 29th. StockNews.com began coverage on Civeo in a research note on Thursday, March 31st. They set a “strong-buy” rating on the stock.

NYSE:CVEO opened at $26.14 on Tuesday. The stock has a 50 day simple moving average of $23.54 and a 200 day simple moving average of $21.98. Civeo has a 1-year low of $14.90 and a 1-year high of $27.90. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.47. The stock has a market cap of $370.80 million, a P/E ratio of -174.27, a PEG ratio of 9.16 and a beta of 3.29.

In other Civeo news, SVP Peter Mccann sold 6,650 shares of Civeo stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $22.49, for a total transaction of $149,558.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Allan Schoening sold 5,000 shares of the business’s stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $23.41, for a total value of $117,050.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,039,946 shares of company stock worth $23,571,687. Corporate insiders own 3.00% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its position in shares of Civeo by 812.7% during the second quarter. Bank of America Corp DE now owns 1,515 shares of the business services provider’s stock worth $27,000 after acquiring an additional 1,349 shares in the last quarter. Advisor Group Holdings Inc. boosted its holdings in shares of Civeo by 82.8% during the third quarter. Advisor Group Holdings Inc. now owns 1,969 shares of the business services provider’s stock worth $44,000 after purchasing an additional 892 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Civeo by 20.8% during the fourth quarter. JPMorgan Chase & Co. now owns 11,259 shares of the business services provider’s stock worth $215,000 after purchasing an additional 1,939 shares during the period. WINTON GROUP Ltd purchased a new stake in Civeo in the third quarter worth about $223,000. Finally, Essex Financial Services Inc. purchased a new position in shares of Civeo during the third quarter valued at approximately $226,000. 76.69% of the stock is owned by hedge funds and other institutional investors.

Civeo Company Profile (Get Rating)

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 accommodations, including modular, skid-mounted accommodation, and central facilities that provide long-term and temporary work force accommodations.

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