Frank’s International N.V. (FI) Downgraded to Underweight at Morgan Stanley

Morgan Stanley lowered shares of Frank’s International N.V. (NYSE:FI) from an equal weight rating to an underweight rating in a research note released on Wednesday morning, MarketBeat Ratings reports. The firm currently has $9.00 price target on the pipeline company’s stock, down from their prior price target of $13.00.

Several other analysts have also recently weighed in on FI. Scotiabank set a $14.00 price objective on shares of Frank’s International N.V. and gave the company a hold rating in a research report on Friday, February 24th. Guggenheim cut shares of Frank’s International N.V. from a buy rating to a hold rating in a research report on Wednesday, March 1st. Zacks Investment Research upgraded shares of Frank’s International N.V. from a hold rating to a buy rating and set a $14.00 target price on the stock in a research report on Wednesday, March 1st. Jefferies Group LLC reiterated a sell rating and issued a $10.00 target price on shares of Frank’s International N.V. in a research report on Wednesday, March 22nd. Finally, Tudor Pickering started coverage on shares of Frank’s International N.V. in a research report on Thursday, March 23rd. They issued a hold rating on the stock. Seven investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $10.50.

Shares of Frank’s International N.V. (FI) traded down 1.740% on Wednesday, hitting $7.625. 482,493 shares of the stock traded hands. Frank’s International N.V. has a 52 week low of $7.02 and a 52 week high of $16.49. The stock has a 50-day moving average price of $8.19 and a 200 day moving average price of $10.64. The firm’s market cap is $1.70 billion.

Frank’s International N.V. (NYSE:FI) last posted its quarterly earnings data on Tuesday, May 2nd. The pipeline company reported ($0.12) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.12). The firm had revenue of $110.73 million for the quarter, compared to analysts’ expectations of $107.79 million. Frank’s International N.V. had a negative net margin of 36.25% and a negative return on equity of 8.41%. The company’s revenue for the quarter was down 27.9% on a year-over-year basis. Equities research analysts predict that Frank’s International N.V. will post ($0.40) EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, June 2nd were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date was Wednesday, May 31st. Frank’s International N.V.’s payout ratio is -36.14%.

In other Frank’s International N.V. news, major shareholder Keith Mosing Family Par Donald sold 450,000 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $8.43, for a total value of $3,793,500.00. Following the transaction, the insider now owns 9,802,720 shares in the company, valued at $82,636,929.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Wbm Partnership, Lp sold 14,800 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $8.40, for a total transaction of $124,320.00. Following the completion of the transaction, the insider now owns 9,903,867 shares in the company, valued at approximately $83,192,482.80. The disclosure for this sale can be found here. Insiders sold 494,800 shares of company stock worth $4,171,320 in the last 90 days. Corporate insiders own 77.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Frank’s International N.V. by 17.5% in the fourth quarter. State Street Corp now owns 877,548 shares of the pipeline company’s stock worth $10,803,000 after buying an additional 130,611 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Frank’s International N.V. by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 479,530 shares of the pipeline company’s stock worth $5,903,000 after buying an additional 14,721 shares during the last quarter. FMR LLC boosted its position in Frank’s International N.V. by 18.1% in the fourth quarter. FMR LLC now owns 6,134,782 shares of the pipeline company’s stock worth $75,519,000 after buying an additional 938,144 shares during the last quarter. Capstone Investment Advisors LLC purchased a new position in Frank’s International N.V. during the fourth quarter worth about $348,000. Finally, Norges Bank purchased a new position in Frank’s International N.V. during the fourth quarter worth about $5,008,000. Hedge funds and other institutional investors own 30.24% of the company’s stock.

About Frank’s International N.V.

Frank’s International N.V. (FINV) is a provider of engineered tubular services, tubular fabrication and specialty well construction and well intervention solutions to the oil and gas industry. The Company operates through four business segments: International Services, U. S. Services, Tubular Sales and Blackhawk.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “FI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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