Sidoti Csr Comments on Civeo Co.’s Q3 2024 Earnings (NYSE:CVEO)

Civeo Co. (NYSE:CVEO) – Analysts at Sidoti Csr lowered their Q3 2024 earnings per share (EPS) 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 of $0.16 per share for the quarter, down from their prior estimate 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 earnings results 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. Civeo had a return on equity of 3.53% and a net margin of 4.49%. The business had revenue of $170.80 million during the quarter, compared to analyst estimates of $151.12 million.

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

Civeo Price Performance

Shares of NYSE:CVEO opened at $24.26 on Wednesday. Civeo has a fifty-two week low of $17.98 and a fifty-two week high of $28.00. The business has a 50-day simple moving average of $25.21 and a two-hundred day simple moving average of $23.19. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.74 and a current ratio of 1.82. The firm has a market cap of $354.68 million, a price-to-earnings ratio of 11.50 and a beta of 2.21.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CVEO. Bailard Inc. bought a new position in shares of Civeo during the 3rd quarter valued at approximately $218,000. Brown Advisory Inc. boosted its stake in Civeo by 21.3% in the 3rd 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 period. Punch & Associates Investment Management Inc. boosted its stake in Civeo by 3.2% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 317,823 shares of the business services provider’s stock worth $6,588,000 after purchasing an additional 9,800 shares during the period. Moors & Cabot Inc. boosted its stake in Civeo by 4.3% in the 3rd quarter. Moors & Cabot Inc. now owns 43,083 shares of the business services provider’s stock worth $893,000 after purchasing an additional 1,767 shares during the period. Finally, UBS Group AG boosted its stake in Civeo by 6.1% in the 3rd quarter. UBS Group AG now owns 118,190 shares of the business services provider’s stock worth $2,450,000 after purchasing an additional 6,841 shares during the period. 81.44% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Peter Mccann sold 5,220 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $23.75, for a total transaction of $123,975.00. Following the completion of the sale, the senior vice president now owns 45,395 shares of the company’s stock, valued at approximately $1,078,131.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.30% of the company’s stock.

Civeo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, May 27th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Thursday, May 23rd. Civeo’s payout ratio is currently 47.39%.

About Civeo

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.