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

Civeo (NYSE:CVEO) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

Civeo Stock Performance

NYSE:CVEO traded down $0.48 during trading hours on Friday, hitting $22.88. 49,898 shares of the company were exchanged, compared to its average volume of 53,451. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.28. Civeo has a 52-week low of $21.44 and a 52-week high of $28.92. The stock has a market capitalization of $315.06 million, a price-to-earnings ratio of 16.34 and a beta of 2.03. The company’s 50 day moving average price is $25.59 and its 200-day moving average price is $25.74.

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 return on equity of 0.11% and a net margin of 3.00%. The company had revenue of $176.34 million for the quarter, compared to analyst estimates of $172.59 million. During the same quarter in the previous year, the firm posted $0.61 earnings per share. As a group, research analysts forecast that Civeo will post -0.58 earnings per share for the current year.

Institutional Trading of Civeo

Institutional investors and hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new position in shares of Civeo during the third quarter worth $68,000. Quent Capital LLC purchased a new position in shares of Civeo during the 3rd quarter valued at about $100,000. SG Americas Securities LLC acquired a new position in shares of Civeo in the 2nd quarter valued at about $128,000. Aristides Capital LLC purchased a new stake in shares of Civeo in the second quarter worth about $213,000. Finally, State Street Corp acquired a new stake in Civeo during the third quarter worth about $222,000. 81.44% of the stock is currently owned by institutional investors and hedge funds.

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.