Civeo (NYSE:CVEO) Posts Earnings Results, Beats Expectations By $0.77 EPS

Civeo (NYSE:CVEO) released its quarterly earnings results on Thursday. The business services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.77, Zacks reports. Civeo had a negative net margin of 1.93% and a negative return on equity of 7.82%.

Civeo Stock Up 0.4%

Civeo stock traded up $0.13 during mid-day trading on Thursday, reaching $30.35. The company’s stock had a trading volume of 156,371 shares, compared to its average volume of 140,117. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.81 and a current ratio of 1.89. Civeo has a twelve month low of $20.59 and a twelve month high of $36.50. The business has a 50 day moving average price of $32.25 and a 200-day moving average price of $30.93.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CVEO. Weiss Ratings raised shares of Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 31st. Roth Capital assumed coverage on shares of Civeo in a research note on Thursday, October 1st. They issued a “buy” rating and a $39.00 target price on the stock. Raymond James Financial cut shares of Civeo from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 1st. Finally, Northland Securities initiated coverage on Civeo in a research note on Thursday, October 1st. They issued an “outperform” rating and a $42.00 price target for the company. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Civeo presently has an average rating of “Moderate Buy” and a consensus price target of $42.25.

Civeo Company Profile

Civeo Corporation is a provider of workforce accommodations and related services for the natural resources and other industries that operate in remote locations. The company develops, owns and operates workforce villages, lodges and other lodging facilities designed to house employees and contractors near work sites.

Civeo’s services include room accommodations, food services, housekeeping, facility management, logistics and transportation support. Its facilities are used by customers in sectors such as oil and gas, mining, and infrastructure development, where temporary or long-term workforce housing is needed.

Headquartered in Houston, Texas, Civeo serves customers primarily in Canada, Australia and the United States.