Civeo (NYSE:CVEO) Posts Earnings Results, Beats Expectations By $0.35 EPS

Civeo (NYSE:CVEO) announced its earnings results on Tuesday. The business services provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.35, Yahoo Finance reports. Civeo had a net margin of 4.95% and a return on equity of 4.75%. The business had revenue of $188.71 million during the quarter, compared to analysts’ expectations of $173.70 million. During the same period in the prior year, the company earned $0.30 earnings per share. Civeo updated its FY 2024 guidance to EPS.

Civeo Stock Performance

Shares of Civeo stock traded down $0.09 on Thursday, reaching $27.11. 51,842 shares of the stock were exchanged, compared to its average volume of 51,869. Civeo has a 1-year low of $17.98 and a 1-year high of $28.00. The company has a current ratio of 1.55, a quick ratio of 1.74 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average price of $24.19 and a two-hundred day moving average price of $24.22. The firm has a market capitalization of $396.35 million, a PE ratio of 12.85 and a beta of 2.07.

Civeo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, August 26th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, August 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.69%. Civeo’s dividend payout ratio (DPR) is 47.39%.

Analyst Ratings Changes

A number of brokerages have recently commented on CVEO. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 target price (up from $31.00) on shares of Civeo in a report on Wednesday. StockNews.com upgraded shares of Civeo from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 20th.

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.