Civeo Corporation (CVEO) Lowered to “Hold” at BidaskClub
Civeo Corporation (NYSE:CVEO) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
A number of other research firms have also recently issued reports on CVEO. Royal Bank Of Canada set a $3.00 price objective on Civeo Corporation and gave the company a “hold” rating in a research report on Sunday, October 8th. ValuEngine raised Civeo Corporation from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $4.17.
Shares of Civeo Corporation (CVEO) traded down 2.00% on Friday, reaching $1.96. The company’s stock had a trading volume of 1,670,930 shares. Civeo Corporation has a 1-year low of $1.08 and a 1-year high of $3.73. The company’s 50 day moving average is $2.54 and its 200-day moving average is $2.31. The firm’s market cap is $259.21 million.
Civeo Corporation (NYSE:CVEO) last released its quarterly earnings data on Friday, July 28th. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.01. Civeo Corporation had a negative return on equity of 13.78% and a negative net margin of 19.92%. The company had revenue of $92.01 million during the quarter. Equities research analysts expect that Civeo Corporation will post ($0.52) EPS for the current year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. William Blair Investment Management LLC lifted its position in shares of Civeo Corporation by 10.5% in the second quarter. William Blair Investment Management LLC now owns 1,132,409 shares of the business services provider’s stock valued at $2,378,000 after buying an additional 107,288 shares during the last quarter. Boston Partners lifted its holdings in Civeo Corporation by 81.3% during the 2nd quarter. Boston Partners now owns 1,818,011 shares of the business services provider’s stock worth $3,818,000 after purchasing an additional 815,088 shares during the last quarter. KCG Holdings Inc. lifted its holdings in Civeo Corporation by 76.4% during the 1st quarter. KCG Holdings Inc. now owns 112,757 shares of the business services provider’s stock worth $337,000 after purchasing an additional 48,831 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Civeo Corporation by 96.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 231,043 shares of the business services provider’s stock worth $485,000 after purchasing an additional 113,162 shares during the last quarter. Finally, Carleon Capital Partners LLC lifted its holdings in Civeo Corporation by 32.7% during the 2nd quarter. Carleon Capital Partners LLC now owns 138,815 shares of the business services provider’s stock worth $293,000 after purchasing an additional 34,200 shares during the last quarter. 76.13% of the stock is owned by institutional investors.
Civeo Corporation Company Profile
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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