Civeo (NYSE:CVEO) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Civeo (NYSE:CVEO) from a hold rating to a sell rating in a report issued on Saturday morning.

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Civeo in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.00.

Civeo Stock Performance

Shares of NYSE:CVEO opened at $21.95 on Friday. The company has a market capitalization of $275.45 million, a price-to-earnings ratio of -9.03 and a beta of 1.20. Civeo has a 52 week low of $18.01 and a 52 week high of $28.23. The company has a quick ratio of 1.45, a current ratio of 1.51 and a debt-to-equity ratio of 0.81. The firm has a 50 day moving average of $23.09 and a 200 day moving average of $22.29.

Civeo (NYSE:CVEO) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22). The business had revenue of $162.69 million during the quarter, compared to the consensus estimate of $166.38 million. Civeo had a negative return on equity of 12.76% and a negative net margin of 5.25%.During the same period last year, the firm earned $0.57 EPS. Civeo has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Civeo will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Civeo

Several institutional investors and hedge funds have recently bought and sold shares of the company. State of Wyoming purchased a new position in Civeo in the second quarter worth $66,000. XTX Topco Ltd purchased a new stake in shares of Civeo during the second quarter valued at $255,000. American Century Companies Inc. grew its holdings in shares of Civeo by 7.4% during the second quarter. American Century Companies Inc. now owns 470,826 shares of the business services provider’s stock valued at $10,871,000 after buying an additional 32,452 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Civeo by 5.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,029 shares of the business services provider’s stock valued at $855,000 after buying an additional 1,759 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new stake in shares of Civeo during the second quarter valued at $748,000. 81.44% of the stock is owned by hedge funds and other institutional investors.

About Civeo

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.