StockNews.com Downgrades Civeo (NYSE:CVEO) to Buy

Civeo (NYSE:CVEO) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Civeo Stock Performance

NYSE CVEO opened at $22.20 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.28. The company has a fifty day moving average price of $24.35 and a 200-day moving average price of $25.60. Civeo has a 1 year low of $21.15 and a 1 year high of $28.92. The firm has a market cap of $305.76 million, a price-to-earnings ratio of 15.86 and a beta of 2.03.

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

Institutional Trading of Civeo

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates grew its holdings in Civeo by 0.8% during the second quarter. Raymond James & Associates now owns 67,555 shares of the business services provider’s stock valued at $1,683,000 after purchasing an additional 561 shares during the period. Acadian Asset Management LLC grew its stake in shares of Civeo by 58.1% during the 2nd quarter. Acadian Asset Management LLC now owns 226,334 shares of the business services provider’s stock worth $5,634,000 after acquiring an additional 83,145 shares during the period. American Century Companies Inc. increased its holdings in Civeo by 22.4% in the 2nd quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider’s stock worth $6,355,000 after acquiring an additional 46,633 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Civeo by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 439,427 shares of the business services provider’s stock valued at $10,950,000 after acquiring an additional 39,987 shares during the period. Finally, Bank of Montreal Can purchased a new stake in Civeo during the second quarter valued at about $947,000. Institutional investors own 81.44% of the company’s stock.

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 assets, including modular, skid-mounted accommodation, and central facilities that provide short to medium-term accommodation needs.