Civeo Co. (NYSE:CVEO) Expected to Announce Quarterly Sales of $177.20 Million

Wall Street analysts expect Civeo Co. (NYSE:CVEOGet Rating) to post sales of $177.20 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Civeo’s earnings, with the lowest sales estimate coming in at $176.50 million and the highest estimate coming in at $177.90 million. Civeo reported sales of $154.18 million during the same quarter last year, which indicates a positive year over year growth rate of 14.9%. The firm is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Civeo will report full year sales of $668.90 million for the current year. For the next fiscal year, analysts anticipate that the firm will report sales of $655.40 million, with estimates ranging from $633.90 million to $676.90 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Civeo.

Civeo (NYSE:CVEOGet Rating) last issued its earnings results on Friday, April 29th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.37. Civeo had a return on equity of 6.14% and a net margin of 1.93%. During the same period last year, the business posted ($0.70) earnings per share.

Several equities research analysts have weighed in on CVEO shares. StockNews.com started coverage on Civeo in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Zacks Investment Research raised Civeo from a “hold” rating to a “strong-buy” rating and set a $33.00 price target on the stock in a research report on Tuesday, May 3rd.

In other news, major shareholder Lance Torgerson sold 958,475 shares of the firm’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $22.75, for a total transaction of $21,805,306.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Allan Schoening sold 5,000 shares of the firm’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. 3.80% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Royce & Associates LP lifted its holdings in Civeo by 2.2% in the 4th quarter. Royce & Associates LP now owns 40,721 shares of the business services provider’s stock valued at $781,000 after purchasing an additional 873 shares in the last quarter. Advisor Group Holdings Inc. lifted its holdings in Civeo by 82.8% in the 3rd quarter. Advisor Group Holdings Inc. now owns 1,969 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 892 shares in the last quarter. RBF Capital LLC lifted its holdings in Civeo by 1.3% in the 1st quarter. RBF Capital LLC now owns 80,907 shares of the business services provider’s stock valued at $1,924,000 after purchasing an additional 1,000 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Civeo by 33.2% in the 1st quarter. Acadian Asset Management LLC now owns 5,387 shares of the business services provider’s stock valued at $124,000 after purchasing an additional 1,342 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Civeo by 812.7% in the 2nd quarter. Bank of America Corp DE now owns 1,515 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 1,349 shares in the last quarter. Institutional investors own 72.02% of the company’s stock.

Shares of CVEO stock opened at $30.20 on Wednesday. The business has a fifty day moving average of $25.90 and a 200 day moving average of $22.91. The firm has a market capitalization of $427.75 million, a price-to-earnings ratio of 49.51, a price-to-earnings-growth ratio of 5.32 and a beta of 2.98. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.36 and a quick ratio of 1.30. Civeo has a 1 year low of $16.15 and a 1 year high of $30.99.

About Civeo (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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