ValuEngine Lowers Civeo (NYSE:CVEO) to Sell

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ValuEngine lowered shares of Civeo (NYSE:CVEO) from a hold rating to a sell rating in a research report released on Thursday, ValuEngine reports.

Separately, Zacks Investment Research raised shares of Civeo from a hold rating to a strong-buy rating and set a $1.25 target price on the stock in a report on Thursday, October 31st.

CVEO stock traded down $0.02 during midday trading on Thursday, reaching $0.98. 418,553 shares of the company were exchanged, compared to its average volume of 350,534. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.33 and a current ratio of 1.39. Civeo has a 1-year low of $0.96 and a 1-year high of $2.85. The stock’s 50-day simple moving average is $1.13 and its 200 day simple moving average is $1.47. The company has a market cap of $172.94 million, a price-to-earnings ratio of -1.48 and a beta of 4.00.

Civeo (NYSE:CVEO) last released its quarterly earnings data on Friday, October 25th. The business services provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. Civeo had a negative net margin of 8.15% and a negative return on equity of 7.53%. The company had revenue of $148.16 million for the quarter, compared to analysts’ expectations of $147.40 million. On average, research analysts anticipate that Civeo will post -0.16 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in CVEO. Brave Asset Management Inc. acquired a new position in Civeo in the 2nd quarter valued at $34,000. JPMorgan Chase & Co. purchased a new stake in shares of Civeo during the 2nd quarter worth $34,000. Zeke Capital Advisors LLC purchased a new stake in shares of Civeo during the 3rd quarter worth $36,000. Algert Global LLC purchased a new stake in shares of Civeo during the 2nd quarter worth $51,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Civeo by 148.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 74,777 shares of the business services provider’s stock worth $129,000 after purchasing an additional 44,715 shares in the last quarter. 66.03% of the stock is currently owned by institutional investors and hedge funds.

About Civeo

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, the United States, and internationally. 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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