Analysts at Tudor Pickering assumed coverage on shares of Franks International NV (NYSE:FI) in a research note issued on Thursday. The firm set a “hold” rating on the stock.
A number of other analysts have also recently commented on FI. Goldman Sachs Group Inc cut Franks International NV from a “neutral” rating to a “sell” rating and set a $8.00 price objective for the company. in a research report on Friday, December 16th. Royal Bank of Canada cut Franks International NV from a “sector perform” rating to an “underperform” rating and lifted their price objective for the stock from $11.00 to $14.00 in a research report on Friday, December 16th. Zacks Investment Research upgraded Franks International NV from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, January 10th. Scotiabank set a $14.00 price objective on Franks International NV and gave the stock a “hold” rating in a research report on Friday, February 24th. Finally, Guggenheim cut Franks International NV from a “buy” rating to a “hold” rating in a research report on Wednesday, March 1st. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $13.04.
Shares of Franks International NV (NYSE:FI) opened at 10.00 on Thursday. The firm’s 50-day moving average is $11.47 and its 200-day moving average is $12.05. Franks International NV has a 52 week low of $9.20 and a 52 week high of $17.73. The stock’s market capitalization is $2.22 billion.
Franks International NV (NYSE:FI) last posted its quarterly earnings data on Thursday, February 23rd. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.05. The company had revenue of $107.98 million for the quarter, compared to analysts’ expectations 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 company’s revenue for the quarter was down 46.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS. On average, equities research analysts anticipate that Franks International NV will post ($0.37) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 17th. Shareholders of record on Monday, March 6th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Thursday, March 2nd. Franks International NV’s payout ratio is -81.08%.
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In other Franks International NV news, Director Steven B. Mosing sold 2,000,000 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Gregory Stanton Mosing purchased 20,000 shares of the firm’s stock in a transaction on Monday, March 20th. The stock was acquired at an average cost of $10.06 per share, for a total transaction of $201,200.00. Following the completion of the purchase, the insider now owns 10,000 shares in the company, valued at approximately $100,600. The disclosure for this purchase can be found here. 77.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Alpine Partners VI LLC acquired a new stake in shares of Franks International NV during the third quarter worth about $134,000. Arete Wealth Advisors LLC purchased a new position in Franks International NV during the third quarter valued at $151,000. Concert Wealth Management Inc. purchased a new position in Franks International NV during the third quarter valued at $233,000. Boston Private Wealth LLC raised its position in Franks International NV by 31.6% in the third quarter. Boston Private Wealth LLC now owns 21,226 shares of the company’s stock valued at $276,000 after buying an additional 5,100 shares in the last quarter. Finally, Eqis Capital Management Inc. raised its position in Franks International NV by 19.0% in the third quarter. Eqis Capital Management Inc. now owns 23,345 shares of the company’s stock valued at $303,000 after buying an additional 3,724 shares in the last quarter. 20.98% of the stock is currently owned by hedge funds and other institutional investors.
About Franks International NV
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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