Civeo (NYSE:CVEO – Get Free Report) was upgraded by research analysts at Roth Capital to a “strong-buy” rating in a report released on Thursday, Zacks reports.
CVEO has been the subject of a number of other research reports. Raymond James Financial cut shares of Civeo from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Weiss Ratings raised shares of Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 31st. Finally, Northland Securities began coverage on shares of Civeo in a research note on Thursday. They issued an “outperform” rating and a $42.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.25.
View Our Latest Report on Civeo
Civeo Trading Up 2.9%
Civeo (NYSE:CVEO – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The business services provider reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.07. The business had revenue of $180.02 million during the quarter, compared to analysts’ expectations of $172.18 million. Civeo had a negative return on equity of 7.82% and a negative net margin of 1.93%. As a group, analysts predict that Civeo will post -0.83 earnings per share for the current year.
Hedge Funds Weigh In On Civeo
Several hedge funds have recently bought and sold shares of CVEO. Engineers Gate Manager LP acquired a new stake in shares of Civeo in the 2nd quarter valued at $217,000. Bank of New York Mellon Corp acquired a new position in shares of Civeo during the 2nd quarter worth $1,032,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Civeo during the 1st quarter worth $217,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Civeo by 12.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 126,478 shares of the business services provider’s stock worth $3,347,000 after buying an additional 13,564 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Civeo by 104.2% in the first quarter. Sei Investments Co. now owns 71,487 shares of the business services provider’s stock valued at $1,892,000 after buying an additional 36,487 shares in the last quarter. 81.44% of the stock is owned by institutional investors.
Civeo Company Profile
Civeo Corporation provides workforce accommodations and related hospitality services for companies operating in remote and challenging environments. Its customers primarily include businesses in the natural resources, mining, energy and infrastructure industries.
The company operates workforce villages, lodges and mobile camps, offering rooms and lodging along with catering, housekeeping, facility management, maintenance, transportation and other support services. These integrated services are designed to support employees working at remote project sites and production locations.
Civeo serves customers primarily in Australia and Canada, where it operates accommodations and provides hospitality services in resource-producing regions.
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