Civeo

CVEO · NYSE

$28.17−$0.35 (−1.23%)TodayMarket closed · Oct 20, 7:00 PM ET

Prev close $28.52

CVEO analyst rating

BuyConsensus of 4 analysts over the last 12 months. 100% rate it a buy.

Strong buy1
Buy3
Hold0
Underperform0
Sell0

12-month price target · 8 analysts

Average $41.61 (+47.7% upside)

Low: $37.14
Now: $28.17
High: $53.55

Upgrades and downgrades

The latest rating actions, newest first

CVEO analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Roth Capital	Oct 1, 2026	Initiates	Buy	$39.00	30%
Northland Capital Markets	Oct 1, 2026	Initiates	Outperform	$42.00	28%
Raymond James	Aug 5, 2026	Initiates	Strong Buy	$51.00	45%
Stifel	Mar 4, 2026	Maintains	Buy	$33.00 → $37.00	51%
Stifel	Feb 5, 2026	Maintains	Buy	$28.00 → $33.00	51%

The case for and against

Updated Nov 28, 2024

Bull case

Civeo Corp's positive outlook is underpinned by a robust financial performance, highlighted by a 4.2% sequential increase in adjusted EBITDA and a significant 81.5% rise in total adjusted EBITDA to $31.3 million, which exceeded forecasts considerably. The company has demonstrated effective capital management by reducing net leverage to below 1.0x, initiating a dividend with a yield of 5.2%, and engaging in share repurchases totaling $3.2 million, which underscores its commitment to returning cash to shareholders. Moreover, Civeo has raised its 2023 revenue and EBITDA guidance, reflecting confidence in continued growth driven by strong fundamentals in its Canadian and Australian markets.

Bear case

Civeo Corp reported an adjusted EBITDA of $17.3 million, which, despite slightly exceeding forecasts, represents a 14.1% decline compared to the previous year, primarily influenced by the wind-down of the LNG-related Canadian mobile camp and related costs totaling $1.8 million. The significant decrease in EBITDA, attributed to the loss of earnings from McClelland Lake and ongoing operational challenges, amounted to a $27 million impact year-over-year. Additionally, persistent labor shortages, cost inflation, geopolitical tensions, particularly between Australia and China, and supply chain disruptions present substantial risks that may hinder the company's financial stability moving forward.

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