Civeo (NYSE:CVEO) Upgraded at Zacks Research

Zacks Research upgraded shares of Civeo (NYSE:CVEO) from a strong sell rating to a hold rating in a research report released on Thursday,Zacks.com reports.

A number of other brokerages have also recently commented on CVEO. Wall Street Zen raised shares of Civeo from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reissued a “sell (d)” rating on shares of Civeo in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Civeo currently has an average rating of “Hold” and an average price target of $27.00.

Civeo Price Performance

NYSE:CVEO opened at $21.68 on Thursday. Civeo has a 12 month low of $18.01 and a 12 month high of $27.55. The company has a current ratio of 1.51, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. The firm has a market cap of $249.59 million, a P/E ratio of -8.92 and a beta of 1.22. The stock has a 50 day moving average of $22.12 and a two-hundred day moving average of $22.59.

Civeo (NYSE:CVEO) last announced its earnings results on Friday, October 31st. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.24). The firm had revenue of $170.49 million during the quarter, compared to analyst estimates of $177.04 million. Civeo had a negative net margin of 5.25% and a negative return on equity of 12.76%. Civeo has set its FY 2025 guidance at EPS. On average, analysts expect that Civeo will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Civeo

A number of large investors have recently modified their holdings of CVEO. State of Wyoming purchased a new stake in shares of Civeo in the second quarter valued at approximately $66,000. Quent Capital LLC acquired a new stake in Civeo in the third quarter valued at $79,000. Goldman Sachs Group Inc. purchased a new stake in shares of Civeo during the 1st quarter worth $204,000. XTX Topco Ltd acquired a new position in shares of Civeo during the 2nd quarter worth $255,000. Finally, Clough Capital Partners L P acquired a new position in shares of Civeo during the 1st quarter worth $728,000. 81.44% of the stock is owned by hedge funds and other institutional investors.

Civeo Company Profile

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.