Jefferies Group LLC upgraded shares of Franks International NV (NYSE:FI) from an underperform rating to a hold rating in a research report released on Friday. Jefferies Group LLC currently has $11.00 price objective on the stock, up from their previous price objective of $10.00.
Several other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Franks International NV from a buy rating to a hold rating in a research note on Tuesday, January 24th. Royal Bank of Canada downgraded Franks International NV from a sector perform rating to an underperform rating and upped their price objective for the company from $11.00 to $14.00 in a research note on Friday, December 16th. Guggenheim downgraded Franks International NV from a buy rating to a hold rating in a research note on Wednesday, March 1st. Tudor Pickering began coverage on Franks International NV in a research note on Thursday. They issued a hold rating for the company. Finally, Scotiabank set a $14.00 price objective on Franks International NV and gave the company a hold rating in a research note on Friday, February 24th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $13.04.
Franks International NV (NYSE:FI) traded down 0.30% on Friday, reaching $9.97. 361,118 shares of the company traded hands. The stock’s market capitalization is $2.22 billion. The firm has a 50 day moving average of $11.47 and a 200-day moving average of $12.05. Franks International NV has a one year low of $9.20 and a one year high of $17.73.
Franks International NV (NYSE:FI) last issued its earnings results on Thursday, February 23rd. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by $0.05. The business had revenue of $107.98 million for the quarter, compared to analyst estimates of $106.92 million. Franks International NV had a negative return on equity of 1.79% and a negative net margin of 10.60%. The firm’s revenue was down 46.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. On average, analysts anticipate that Franks International NV will post ($0.37) EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Friday, March 17th. Investors of record on Monday, March 6th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Thursday, March 2nd. Franks International NV’s payout ratio is presently -81.08%.
In related news, Director Steven B. Mosing sold 2,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $9.00, for a total value of $18,000,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Keith Mosing Family Par Donald sold 248,000 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $12.16, for a total value of $3,015,680.00. Following the completion of the sale, the insider now owns 10,252,720 shares in the company, valued at $124,673,075.20. The disclosure for this sale can be found here. Corporate insiders own 77.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FI. Norges Bank bought a new stake in shares of Franks International NV during the fourth quarter valued at approximately $5,008,000. Hampstead Capital LLP bought a new stake in shares of Franks International NV during the fourth quarter valued at approximately $492,000. Capstone Investment Advisors LLC bought a new stake in shares of Franks International NV during the fourth quarter valued at approximately $348,000. Bain Capital Investors LLC bought a new stake in shares of Franks International NV during the fourth quarter valued at approximately $104,712,000. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Franks International NV during the fourth quarter valued at approximately $29,455,000. Institutional investors and hedge funds own 20.98% of the company’s stock.
Franks International NV Company Profile
Franks International NV is a provider of engineered tubular services to the oil and gas industry based in the Netherlands. The Company operates through three business segments: International Services, U.S. Services and Tubular Sales. The Company provides services to exploration and production companies in both offshore and onshore environments, with a focus on wells.
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