Civeo Co. Announces Quarterly Dividend of $0.25 (NYSE:CVEO)

Civeo Co. (NYSE:CVEO) declared a quarterly dividend on Wednesday, October 30th, NASDAQ 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 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Monday, November 25th.

Civeo has a payout ratio of 172.4% indicating that 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 $0.56 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 178.6%.

Civeo Price Performance

Shares of CVEO stock opened at $25.33 on Thursday. The stock has a 50 day moving average price of $27.70 and a 200 day moving average price of $25.86. The firm has a market capitalization of $370.32 million, a P/E ratio of 12.00 and a beta of 2.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.55. Civeo has a 52-week low of $19.10 and a 52-week high of $28.92.

Civeo (NYSE:CVEO) last issued its earnings results on Tuesday, July 30th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.35. The firm had revenue of $188.71 million during the quarter, compared to analyst estimates of $173.70 million. Civeo had a net margin of 4.95% and a return on equity of 4.75%. During the same period in the previous year, the firm earned $0.30 earnings per share. As a group, sell-side analysts predict that Civeo will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In other Civeo news, SVP Allan Schoening sold 5,000 shares of Civeo stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $27.50, for a total transaction of $137,500.00. Following the completion of the sale, the senior vice president now directly owns 16,146 shares of the company’s stock, valued at $444,015. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.30% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Stifel Nicolaus reiterated a “buy” rating and set a $32.00 price objective (up previously from $31.00) on shares of Civeo in a report on Wednesday, July 31st.

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.