Civeo (NYSE:CVEO) Raised to “Strong-Buy” at StockNews.com

Civeo (NYSE:CVEO) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.

Civeo Trading Up 0.4 %

CVEO opened at $23.38 on Friday. The stock has a market capitalization of $322.01 million, a price-to-earnings ratio of 16.70 and a beta of 2.06. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. Civeo has a twelve month low of $21.44 and a twelve month high of $28.92. The company has a 50-day simple moving average of $26.36 and a 200 day simple moving average of $25.85.

Civeo (NYSE:CVEO) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.38). The firm had revenue of $176.34 million for the quarter, compared to the consensus estimate of $172.59 million. Civeo had a return on equity of 0.11% and a net margin of 3.00%. During the same period last year, the company posted $0.61 EPS. Analysts predict that Civeo will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Raymond James & Associates increased its holdings in shares of Civeo by 0.8% during the second quarter. Raymond James & Associates now owns 67,555 shares of the business services provider’s stock worth $1,683,000 after buying an additional 561 shares in the last quarter. Quantbot Technologies LP acquired a new position in Civeo in the 3rd quarter worth about $68,000. Lazard Asset Management LLC increased its holdings in Civeo by 42.6% in the 1st quarter. Lazard Asset Management LLC now owns 10,773 shares of the business services provider’s stock worth $289,000 after purchasing an additional 3,220 shares in the last quarter. Quent Capital LLC bought a new position in Civeo in the third quarter valued at about $100,000. Finally, Empowered Funds LLC boosted its stake in shares of Civeo by 5.3% during the third quarter. Empowered Funds LLC now owns 95,863 shares of the business services provider’s stock valued at $2,627,000 after purchasing an additional 4,824 shares in the last quarter. Institutional investors and hedge funds own 81.44% of the company’s stock.

Civeo Company Profile

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.