Civeo Corp (NYSE: CVEO) has reported earnings for its second fiscal quarter (ending June 30) of $0.57 versus $0.30 for the same period a year ago. For the latest four quarters through June 30, E.P.S. were $2.39 compared to $-1.12 a year ago.
Recent Price Action
Civeo Corp (NYSE: CVEO) stock closed at $26.22 on 7/30/24 after a large increase of 4.2%. Moreover, unusually high trading volume at 164% of normal accompanied the advance. The stock has performed in line with the market over the last nine months and has risen 7.1% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be in line with the cost of capital, CVEO is expected to continue to be Value Creation neutral.
Civeo has a current Value Trend Rating of C (Low Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing contradictory signals. Civeo has a poor Appreciation Score of 29 but a slightly positive Power Rating of 61, resulting in the Low Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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