Stock News in Focus: Civeo Corporation (CVEO)

 Civeo Corporation (CVEO) spotted trading -64.87% off 52-week high price. On the other end, the stock has been noted 45.54% away from the low price over the last 52-weeks. The stock changed 1.24% to recent value of $1.63. The stock transacted 126178 shares during most recent day however it has an average volume of 266.46K shares. The company has 158.49M of outstanding shares and 133.96M shares were floated in the market.

Civeo Corporation (NYSE: CVEO) reported that it was awarded a contract from BHP Billiton Mitsui Coal Pty Ltd (“BMC”) to provide rooms and hospitality services from the Company’s existing Coppabella and Nebo accommodations facilities in Australia. The contract is for an initial four year time period with an option to extend for an additional year. It is anticipated that the initial commitment will generate approximately A$82 million in total revenues over 2019-2023. This contract was already contemplated in the full year 2019 adjusted corporate EBITDA guidance of US$95 – $101 million communicated on our first quarter 2019 earnings conference call.

 

“This contract award reaffirms the strength of Civeo’s customer relationships and the high quality of our accommodations and hospitality services. We pride ourselves on our commitment to meet and exceed our customers’ expectations and are encouraged by BMC’s decision to continue to stay at our facilities for another four years and extend our longstanding relationship. We are also broadly encouraged that our customers continue to deploy capital in Australia against a favorable commodity price backdrop,” said Bradley J. Dodson, Civeo’s President and Chief Executive Officer.

Civeo Corporation is a leading provider of hospitality services with prominent market positions in the Canadian oil sands and the Australian natural resource regions. Civeo offers comprehensive solutions for lodging hundreds or thousands of workers with its long-term and temporary accommodations and provides food services, housekeeping, facility management, laundry, water and wastewater treatment, power generation, communications systems, security and logistics services. Civeo currently operates a total of 33 lodges and villages in operation in Canada, Australia and the U.S., with an aggregate of approximately 33,000 rooms. Civeo is publicly traded under the symbol CVEO on the New York Stock Exchange. For more information, please visit Civeo’s website at www.civeo.com.

Its earnings per share (EPS) expected to touch remained -1.80% for this year while earning per share for the next 5-years is expected to reach at 15.00%. CVEO has a gross margin of 30.90% and an operating margin of -11.40% while its profit margin remained -19.80% for the last 12 months.

According to the most recent quarter its current ratio was 1.1 that represents company’s ability to meet its current financial obligations. The price moved ahead of 6.15% from the mean of 20 days, -0.16% from mean of 50 days SMA and performed -26.77% from mean of 200 days price. Company’s performance for the week was -4.12%, 12.41% for month and YTD performance remained 13.99%.

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