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Civeo Corporation (NYSE: NYSE:CVEO), a provider of workforce accommodations, logistics, and facility management services to the natural resource industry, has seen its stock price touch a 52-week low, dipping to $20.65. According to InvestingPro analysis, the company appears undervalued at current levels, with analysts setting a consensus target price of $30. This latest price level reflects a significant downturn from the company’s performance over the past year, with Civeo’s stock experiencing a 1-year change of -17.2%. Despite current challenges, the company maintains a moderate debt level with a debt-to-equity ratio of 0.24 and a healthy current ratio of 1.19. Investors are closely monitoring the stock as it navigates through the current economic headwinds that have impacted the broader market and specifically the sectors Civeo serves. For deeper insights into Civeo’s financial health and growth prospects, InvestingPro subscribers can access 10+ additional exclusive ProTips and comprehensive analysis. The company’s ability to adapt to the fluctuating demand within the natural resource industry will be critical as it seeks to recover from this low point. Looking ahead, analysts predict a return to profitability this year, with a forecasted EPS of $0.41, suggesting potential for recovery.
In other recent news, Civeo Corporation reported its fourth-quarter 2024 financial results, which revealed a revenue miss and a significant net loss. The company recorded revenues of $151 million, falling short of the forecasted $155.37 million, and reported a net loss of $15.1 million or $1.10 per diluted share. This performance has led to a restructuring of its Canadian operations, aiming to cut overhead costs by 25%. Additionally, Civeo announced a 23% year-over-year increase in its Australian segment revenues. Despite these challenges, the company has set its 2025 revenue guidance between $630 million and $660 million, with an adjusted EBITDA target of $80 million to $90 million. On the analyst front, Stifel analysts expressed concerns about the company’s asset-light versus asset-intensive business model during the earnings call. The company also highlighted its strategic focus on growth in the Australian market, including a recent acquisition in the Bowen Basin. Civeo’s management remains optimistic about medium to long-term opportunities, particularly in the Australian market, despite current financial setbacks.
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