Civeo (NYSE:CVEO) Downgraded by ValuEngine to “Sell”

Civeo (NYSE:CVEO) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday, ValuEngine reports.

Separately, Zacks Investment Research upgraded Civeo from a “hold” rating to a “strong-buy” rating and set a $1.25 price objective on the stock in a research note on Thursday, October 31st.

Shares of NYSE CVEO traded down $0.02 during mid-day trading on Thursday, reaching $0.98. 418,553 shares of the company’s stock were exchanged, compared to its average volume of 350,534. The firm has a market capitalization of $172.94 million, a price-to-earnings ratio of -1.48 and a beta of 4.00. Civeo has a 52 week low of $0.96 and a 52 week high of $2.85. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.39 and a quick ratio of 1.33. The firm has a 50-day moving average price of $1.13 and a two-hundred day moving average price of $1.47.

Civeo (NYSE:CVEO) last released its earnings results on Friday, October 25th. The business services provider reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.05. The company had revenue of $148.16 million for the quarter, compared to analysts’ expectations of $147.40 million. Civeo had a negative return on equity of 7.53% and a negative net margin of 8.15%. As a group, sell-side analysts forecast that Civeo will post -0.16 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Brave Asset Management Inc. purchased a new position in Civeo during the 2nd quarter valued at about $34,000. JPMorgan Chase & Co. purchased a new position in Civeo during the 2nd quarter valued at about $34,000. Zeke Capital Advisors LLC purchased a new position in Civeo during the 3rd quarter valued at about $36,000. Algert Global LLC purchased a new position in Civeo during the 2nd quarter valued at about $51,000. Finally, Envestnet Asset Management Inc. grew its holdings in Civeo by 148.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 74,777 shares of the business services provider’s stock valued at $129,000 after buying an additional 44,715 shares in the last quarter. Institutional investors and hedge funds own 66.03% of the company’s stock.

Civeo Company Profile

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, the United States, and internationally. 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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