Sidoti Csr Has Negative Estimate for Civeo FY2024 Earnings

Civeo Co. (NYSE:CVEO) – Research analysts at Sidoti Csr lowered their FY2024 earnings per share (EPS) estimates for shares of Civeo in a note issued to investors on Thursday, October 31st. Sidoti Csr analyst S. Ferazani now forecasts that the business services provider will post earnings per share of ($0.58) for the year, down from their prior forecast of ($0.36). The consensus estimate for Civeo’s current full-year earnings is ($0.36) per share. Sidoti Csr also issued estimates for Civeo’s Q4 2024 earnings at ($0.53) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.04 EPS and Q4 2025 earnings at ($0.25) EPS.

CVEO has been the topic of several other research reports. StockNews.com downgraded Civeo from a “strong-buy” rating to a “buy” rating in a report on Friday. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price target (up previously from $31.00) on shares of Civeo in a report on Wednesday, July 31st.

Civeo Price Performance

Shares of NYSE CVEO opened at $25.51 on Monday. The company has a market capitalization of $351.27 million, a price-to-earnings ratio of 18.22 and a beta of 2.06. Civeo has a twelve month low of $20.58 and a twelve month high of $28.92. The business has a 50 day simple moving average of $27.65 and a 200-day simple moving average of $25.87. The company has a current ratio of 1.36, a quick ratio of 1.46 and a debt-to-equity ratio of 0.18.

Civeo (NYSE:CVEO) last issued its earnings results on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.38). The company had revenue of $176.34 million during the quarter, compared to analyst estimates of $172.59 million. Civeo had a net margin of 3.00% and a return on equity of 0.11%. During the same quarter last year, the company posted $0.61 EPS.

Civeo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 25th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date is Monday, November 25th. Civeo’s dividend payout ratio (DPR) is 71.43%.

Insider Activity at Civeo

In other Civeo news, SVP Allan Schoening sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $27.50, for a total transaction of $137,500.00. Following the completion of the transaction, the senior vice president now owns 16,146 shares in the company, valued at approximately $444,015. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.30% of the stock is owned by insiders.

Institutional Trading of Civeo

Institutional investors have recently made changes to their positions in the stock. Quent Capital LLC bought a new stake in Civeo during the third quarter worth approximately $100,000. SG Americas Securities LLC acquired a new stake in shares of Civeo in the second quarter valued at $128,000. Aristides Capital LLC bought a new position in Civeo during the second quarter valued at about $213,000. Meixler Investment Management Ltd. bought a new position in Civeo during the first quarter valued at about $220,000. Finally, Lazard Asset Management LLC grew its holdings in Civeo by 42.6% during the first quarter. Lazard Asset Management LLC now owns 10,773 shares of the business services provider’s stock worth $289,000 after acquiring an additional 3,220 shares during the period. 81.44% of the stock is owned by institutional investors and hedge funds.

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.