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

Civeo Co. (NYSE:CVEO) announced a quarterly dividend on Friday, April 26th, Zacks reports. Investors of record on Monday, May 27th will be paid a dividend of 0.25 per share by the business services provider on Monday, June 17th. This represents a $1.00 annualized dividend and a yield of 4.00%. The ex-dividend date is Thursday, May 23rd.

Civeo has a payout ratio of 208.3% indicating that 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 $0.48 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 208.3%.

Civeo Trading Down 3.2 %

Civeo stock traded down $0.83 during mid-day trading on Friday, hitting $25.00. 60,625 shares of the company’s stock were exchanged, compared to its average volume of 40,156. The firm has a market capitalization of $366.50 million, a P/E ratio of 12.25 and a beta of 2.17. Civeo has a fifty-two week low of $17.87 and a fifty-two week high of $28.00. The company has a quick ratio of 1.47, a current ratio of 1.53 and a debt-to-equity ratio of 0.20. The company’s 50 day simple moving average is $25.12 and its 200-day simple moving average is $23.08.

Civeo (NYSE:CVEO) last issued its quarterly earnings data on Thursday, February 29th. The business services provider reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.33. Civeo had a return on equity of 2.69% and a net margin of 4.30%. The business had revenue of $170.80 million for the quarter, compared to the consensus estimate of $151.12 million. On average, equities analysts anticipate that Civeo will post 0.14 earnings per share for the current year.

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.