Civeo (NYSE:CVEO) Announces Earnings Results

Civeo (NYSE:CVEO) announced its quarterly earnings results on Tuesday. The business services provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.35, Yahoo Finance reports. The firm had revenue of $188.71 million for the quarter, compared to the consensus estimate of $173.70 million. Civeo had a return on equity of 3.53% and a net margin of 4.49%. During the same quarter in the previous year, the business earned $0.30 earnings per share. Civeo updated its FY 2024 guidance to EPS.

Civeo Stock Performance

Shares of NYSE:CVEO traded up $0.99 during trading on Wednesday, reaching $27.21. 65,835 shares of the stock were exchanged, compared to its average volume of 51,869. Civeo has a 12 month low of $17.98 and a 12 month high of $28.00. The firm has a market cap of $397.81 million, a PE ratio of 13.01 and a beta of 2.07. The stock has a 50-day moving average price of $24.14 and a 200-day moving average price of $24.20. The company has a current ratio of 1.82, a quick ratio of 1.74 and a debt-to-equity ratio of 0.26.

Civeo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, August 26th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Monday, August 26th. Civeo’s dividend payout ratio is presently 47.39%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com raised Civeo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 20th. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price target (up previously from $31.00) on shares of Civeo in a research report on Wednesday.

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.