Civeo (NYSE:CVEO) Downgraded to “Buy” Rating by StockNews.com

StockNews.com cut shares of Civeo (NYSE:CVEO) from a strong-buy rating to a buy rating in a report issued on Friday morning.

Civeo Stock Down 2.1 %

NYSE CVEO opened at $22.88 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.36. Civeo has a one year low of $21.44 and a one year high of $28.92. The stock has a 50 day moving average price of $25.50 and a 200-day moving average price of $25.74. The company has a market capitalization of $315.06 million, a P/E ratio of 16.34 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) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $172.59 million. During the same quarter last year, the firm earned $0.61 EPS. As a group, equities analysts predict that Civeo will post -0.58 EPS for the current fiscal year.

Civeo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 25th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 4.37%. Civeo’s dividend payout ratio is currently 71.43%.

Institutional Investors Weigh In On Civeo

A number of institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new position in Civeo in the third quarter worth $68,000. Quent Capital LLC purchased a new stake in Civeo in the third quarter valued at about $100,000. SG Americas Securities LLC acquired a new stake in Civeo in the second quarter worth about $128,000. Aristides Capital LLC purchased a new stake in shares of Civeo during the second quarter worth about $213,000. Finally, State Street Corp purchased a new position in shares of Civeo in the 3rd quarter valued at approximately $222,000. Institutional investors own 81.44% of the company’s stock.

Civeo Company Profile

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.