Zacks: Analysts Expect Civeo Co. (NYSE:CVEO) Will Post Earnings of -$0.23 Per Share

Brokerages predict that Civeo Co. (NYSE:CVEO) will report ($0.23) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Civeo’s earnings. Civeo posted earnings per share of $0.72 in the same quarter last year, which would suggest a negative year over year growth rate of 131.9%. The business is expected to announce its next earnings report on Wednesday, August 4th.

On average, analysts expect that Civeo will report full-year earnings of ($0.49) per share for the current year. For the next fiscal year, analysts anticipate that the company will post earnings of $0.36 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Civeo.

Civeo (NYSE:CVEO) last posted its quarterly earnings data on Thursday, April 29th. The business services provider reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.14). Civeo had a net margin of 0.45% and a return on equity of 2.37%. The business had revenue of $125.43 million during the quarter, compared to analyst estimates of $125.30 million.

Separately, Zacks Investment Research lowered shares of Civeo from a “hold” rating to a “sell” rating in a research note on Wednesday, July 7th.

Several institutional investors have recently modified their holdings of the company. KBC Group NV acquired a new position in Civeo during the first quarter worth about $28,000. Berman Capital Advisors LLC acquired a new position in Civeo during the fourth quarter worth about $59,000. JPMorgan Chase & Co. grew its position in Civeo by 42.5% during the first quarter. JPMorgan Chase & Co. now owns 6,304 shares of the business services provider’s stock worth $97,000 after buying an additional 1,880 shares during the period. Adalta Capital Management LLC acquired a new position in Civeo during the first quarter worth about $153,000. Finally, Engineers Gate Manager LP acquired a new position in Civeo during the fourth quarter worth about $150,000. Institutional investors and hedge funds own 57.68% of the company’s stock.

Shares of Civeo stock traded down $0.58 on Thursday, reaching $19.65. 800 shares of the stock were exchanged, compared to its average volume of 37,933. Civeo has a 1-year low of $5.77 and a 1-year high of $20.67. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.92. The stock’s fifty day simple moving average is $17.86. The firm has a market capitalization of $280.80 million, a price-to-earnings ratio of -144.78 and a beta of 3.81.

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 accommodations, including modular, skid-mounted accommodation, and central facilities that provide long-term and temporary work force accommodations.

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