Equities Analysts Issue Forecasts for Civeo FY2027 Earnings

Civeo Corporation (NYSE:CVEO) – Equities research analysts at Sidoti boosted their FY2027 EPS estimates for Civeo in a research note issued on Monday, July 6th. Sidoti analyst S. Ferazani now expects that the business services provider will post earnings per share of $0.52 for the year, up from their prior estimate of $0.49. The consensus estimate for Civeo’s current full-year earnings is ($1.10) per share.

Civeo (NYSE:CVEO) last posted its earnings results on Friday, May 1st. The business services provider reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.27. Civeo had a negative net margin of 2.10% and a negative return on equity of 7.72%. The company had revenue of $172.67 million during the quarter, compared to the consensus estimate of $154.70 million.

Separately, Weiss Ratings raised Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $37.00.

Civeo Price Performance

CVEO stock opened at $31.64 on Tuesday. The company has a market capitalization of $346.10 million, a P/E ratio of -26.59 and a beta of 0.73. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.81 and a current ratio of 1.88. Civeo has a 52-week low of $19.75 and a 52-week high of $36.50. The business has a 50-day simple moving average of $33.30 and a two-hundred day simple moving average of $29.00.

Hedge Funds Weigh In On Civeo

A number of hedge funds have recently added to or reduced their stakes in CVEO. Goldman Sachs Group Inc. bought a new position in Civeo in the 1st quarter valued at approximately $204,000. Empowered Funds LLC boosted its position in shares of Civeo by 5.5% during the first quarter. Empowered Funds LLC now owns 106,318 shares of the business services provider’s stock valued at $2,445,000 after buying an additional 5,570 shares during the last quarter. State of Wyoming bought a new stake in Civeo in the 2nd quarter worth about $66,000. Dimensional Fund Advisors LP increased its holdings in Civeo by 1.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 618,374 shares of the business services provider’s stock worth $14,222,000 after buying an additional 9,870 shares in the last quarter. Finally, Boston Partners raised its position in Civeo by 8.6% in the 3rd quarter. Boston Partners now owns 144,040 shares of the business services provider’s stock worth $3,313,000 after buying an additional 11,432 shares during the last quarter. 81.44% of the stock is currently owned by hedge funds and other institutional investors.

About Civeo

Civeo Corporation is a leading provider of workforce accommodations and integrated facility management services, primarily serving the oil and gas, mining, and construction sectors. The company specializes in the development, ownership, and operation of remote lodging facilities, commonly known as “man camps,” designed to house workers in geographically challenging environments. Its services include turnkey accommodations, catering, housekeeping, grounds maintenance, and logistical support, tailored to meet the needs of large-scale energy and resource projects.

With a network of lodges and villages across North America and Australia, Civeo caters to clients operating in regions such as Alberta’s oil sands, the Bakken shale play, and Australia’s Pilbara and Bowen Basin mining districts.