Civeo Co. (CVEO) To Go Ex-Dividend on August 26th

Civeo Co. (NYSE:CVEO) declared a quarterly dividend on Tuesday, July 30th, Zacks reports. Investors of record on Monday, August 26th will be given a dividend of 0.25 per share by the business services provider on Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Monday, August 26th.

Civeo has a dividend payout ratio of 188.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Civeo to earn $0.48 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 208.3%.

Civeo Trading Up 3.8 %

Shares of NYSE:CVEO opened at $27.21 on Thursday. The stock has a market capitalization of $397.81 million, a PE ratio of 12.90 and a beta of 2.07. The company’s 50-day moving average price is $24.19 and its two-hundred day moving average price is $24.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.55 and a quick ratio of 1.74. Civeo has a one year low of $17.98 and a one year high of $28.00.

Civeo (NYSE:CVEO) last posted its quarterly earnings results on Tuesday, July 30th. The business services provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.35. The firm had revenue of $188.71 million during the quarter, compared to the consensus estimate of $173.70 million. Civeo had a return on equity of 4.75% and a net margin of 4.95%. During the same period last year, the company earned $0.30 earnings per share. On average, equities analysts forecast that Civeo will post 0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CVEO. StockNews.com upgraded shares of Civeo from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 20th. Stifel Nicolaus reiterated a “buy” rating and set a $32.00 price target (up previously from $31.00) on shares of Civeo in a 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.