Civeo Corporation (NYSE:CVEO) is one of the best performers on the stock market today. At current price of $1.53, the shares have already added 0.1 points (6.99% higher) from its previous close of $1.43. Should you buy or avoid them? The stock sets an active trading volume day with a reported 127891 contracts so far this session. CVEO shares had a relatively better volume day versus average trading capacity of 221.59 thousand shares, but with a 0.13 billion float and a -7.74% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CVEO stock indicates that the average analyst price target is $3.33 per share. This means the stock has a potential increase of 117.65% from where the CVEO share price has been trading recently which is between $1.4 and $1.47. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $3.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Civeo Corp (CVEO) Q2 2019 Earnings Call Transcript” and dated July 29, 2019.
During the recent trading session for Civeo Corporation (NYSE:CVEO), the company witnessed their stock rise $0.05 over a week and tumble down $-0.02 from the price 20 days ago. When compared to their established 52-week high of $4.43, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/10/18. The recent low of $1.12 stood for a -65.46% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 4.2 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Civeo Corporation, the two-week RSI stands at 49.32. This figure suggests that CVEO stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CVEO readings is similarly very revealing as it has a stochastic reading of 22.3% at this stage. This figure means that CVEO share price today is being overbought.
Technical chart claims that Civeo Corporation (CVEO) would settle between $1.47/share to $1.5/share level. However, if the stock price goes below the $1.4 mark, then the market for Civeo Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $1.36 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.04. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at RBC Capital Mkts, assumed coverage of CVEO assigning Sector Perform rating, according to their opinion released on April 10. Scotia Howard Weil analysts have lowered their rating of Civeo Corporation (NYSE:CVEO) stock from Focus Stock to Sector Outperform in a separate flash note issued to investors on July 13. Analysts at Scotia Howard Weil released an upgrade from Sector Outperform to Focus Stock for the stock, in a research note that dated back to June 22.
CVEO equity has an average rating of 2, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Civeo Corporation (NYSE:CVEO) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, CVEO stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.59 while for the average stock in the same group, the multiple is 3.41.
Civeo Corporation (CVEO)’s current-quarter revenues are projected to climb by nearly 22.33% to hit $147400, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 8.42% from $466690 to a noteworthy $506000. At the other end of the current quarter income statement, Civeo Corporation is expected to see its adjusted earnings surge by roughly 66.67% to hit $-0.03 per share. For the fiscal year, CVEO’s earnings are projected to climb by roughly 65.15% to hit $-0.23 per share.