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

Civeo Co. (NYSE:CVEO) announced a quarterly dividend on Wednesday, October 30th,NASDAQ Dividends reports. Stockholders of record on Monday, November 25th will be paid 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 4.09%. The ex-dividend date of this dividend is Monday, November 25th.

Civeo has a 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. 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 Stock Up 2.1 %

Shares of CVEO opened at $24.45 on Friday. The firm has a 50 day simple moving average of $26.85 and a two-hundred day simple moving average of $25.89. 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 one year low of $21.44 and a one year high of $28.92. The company has a market cap of $336.68 million, a P/E ratio of 17.46 and a beta of 2.06.

Civeo (NYSE:CVEO) last posted its quarterly earnings results 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). The business had revenue of $176.34 million for the quarter, compared to analyst estimates of $172.59 million. Civeo had a return on equity of 0.11% and a net margin of 3.00%. During the same period last year, the firm posted $0.61 EPS. Research analysts forecast that Civeo will post -0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CVEO shares. StockNews.com downgraded shares of Civeo from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus restated a “buy” rating and issued a $32.00 target price (up previously from $31.00) on shares of Civeo in a research 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.