Civeo Co. (CVEO) to Issue Quarterly Dividend of $0.25 on December 16th

Civeo Co. (NYSE:CVEO) announced a quarterly dividend on Wednesday, October 30th,NASDAQ Dividends reports. Stockholders of record on Monday, November 25th will be given a dividend of 0.25 per share by the business services provider on Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend is Monday, November 25th.

Civeo has a dividend payout ratio of 185.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Civeo to earn $0.40 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 250.0%.

Civeo Trading Up 2.2 %

NYSE:CVEO opened at $24.46 on Friday. The company’s 50 day moving average is $26.85 and its 200-day moving average is $25.88. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. Civeo has a 12 month low of $21.44 and a 12 month high of $28.92. The firm has a market cap of $336.81 million, a price-to-earnings ratio of 17.47 and a beta of 2.06.

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 analysts’ consensus estimates of $0.02 by ($0.38). Civeo had a return on equity of 0.11% and a net margin of 3.00%. The business had revenue of $176.34 million during the quarter, compared to the consensus estimate of $172.59 million. During the same quarter in the previous year, the firm posted $0.61 earnings per share. Equities analysts anticipate that Civeo will post -0.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVEO. StockNews.com downgraded shares of Civeo from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus restated a “buy” rating and set a $32.00 price target (up from $31.00) on shares of Civeo in a research note on Wednesday, July 31st.

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.