Civeo Corporation (CVEO) Receives Average Recommendation of “Buy” from Brokerages
Shares of Civeo Corporation (NYSE:CVEO) have earned a consensus rating of “Buy” from the six research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $3.69.
A number of equities research analysts have commented on the stock. BidaskClub raised shares of Civeo Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, September 9th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $3.00 target price on shares of Civeo Corporation in a research report on Friday, September 1st. Finally, ValuEngine raised shares of Civeo Corporation from a “sell” rating to a “hold” rating in a research report on Friday, September 1st.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CVEO. Alps Advisors Inc. lifted its stake in shares of Civeo Corporation by 37.6% during the 2nd quarter. Alps Advisors Inc. now owns 62,857 shares of the business services provider’s stock valued at $132,000 after buying an additional 17,186 shares in the last quarter. Blair William & Co. IL bought a new stake in Civeo Corporation in the 1st quarter valued at $139,000. M&T Bank Corp increased its holdings in Civeo Corporation by 3.8% in the 2nd quarter. M&T Bank Corp now owns 67,445 shares of the business services provider’s stock valued at $141,000 after acquiring an additional 2,445 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Civeo Corporation in the 1st quarter valued at $155,000. Finally, Wells Fargo & Company MN increased its holdings in Civeo Corporation by 116.7% in the 2nd quarter. Wells Fargo & Company MN now owns 90,124 shares of the business services provider’s stock valued at $189,000 after acquiring an additional 48,529 shares during the last quarter. Institutional investors own 76.16% of the company’s stock.
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Shares of Civeo Corporation (NYSE CVEO) traded up 2.37% during trading on Friday, hitting $2.59. The stock had a trading volume of 775,023 shares. The firm’s market cap is $342.52 million. The stock has a 50 day moving average of $1.96 and a 200 day moving average of $2.40. Civeo Corporation has a 52-week low of $1.00 and a 52-week high of $3.73.
Civeo Corporation (NYSE:CVEO) last posted its earnings results on Friday, July 28th. The business services provider reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. Civeo Corporation had a negative net margin of 24.80% and a negative return on equity of 12.63%. The business had revenue of $92.01 million during the quarter. On average, equities analysts anticipate that Civeo Corporation will post ($0.52) EPS for the current year.
About Civeo Corporation
Civeo Corporation is an integrated provider of long-term and temporary remote site accommodations, logistics and facility management services to the natural resource industry. The Company operates in active oil, coal, natural gas and iron ore producing regions, including Canada, Australia and the United States.
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