Frank’s International NV (FI) Stock Price Down 2.5%
Frank’s International NV (NYSE:FI) dropped 2.5% on Wednesday . The stock traded as low as $12.31 and last traded at $12.39, with a volume of 315,184 shares. The stock had previously closed at $12.71.
FI has been the subject of several recent analyst reports. KLR Group restated a “buy” rating and set a $22.00 target price on shares of Frank’s International NV in a research note on Wednesday, June 15th. Barclays PLC lowered their price target on shares of Frank’s International NV from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, July 29th. Capital One Financial Corp. downgraded shares of Frank’s International NV from an “overweight” rating to an “equal weight” rating in a report on Thursday, July 28th. Credit Suisse Group AG reiterated a “hold” rating on shares of Frank’s International NV in a report on Thursday, June 2nd. Finally, TheStreet upgraded shares of Frank’s International NV from a “sell” rating to a “hold” rating in a report on Friday, May 27th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. Frank’s International NV currently has a consensus rating of “Hold” and an average price target of $15.20.
The company’s 50 day moving average price is $13.31 and its 200 day moving average price is $14.86. The stock’s market cap is $1.83 billion.
Frank’s International NV (NYSE:FI) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.13. The business had revenue of $121 million for the quarter, compared to analysts’ expectations of $142.41 million. Frank’s International NV’s revenue for the quarter was down 52.4% on a year-over-year basis. During the same period last year, the firm posted $0.14 earnings per share. Equities analysts expect that Frank’s International NV will post ($0.39) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Wednesday, August 31st will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.56%. The ex-dividend date is Monday, August 29th.
In other news, major shareholder Donald E. Mosing purchased 41,000 shares of the business’s stock in a transaction on Friday, August 5th. The stock was purchased at an average cost of $12.15 per share, with a total value of $498,150.00. Following the acquisition, the insider now directly owns 91,000 shares in the company, valued at $1,105,650. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
A hedge fund recently raised its stake in Frank’s International NV stock. Morgan Stanley boosted its stake in shares of Frank’s International NV (NYSE:FI) by 26.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 729,717 shares of the company’s stock after buying an additional 154,393 shares during the period. Morgan Stanley owned 0.47% of Frank’s International NV worth $12,179,000 at the end of the most recent quarter.
Frank’s International N.V. is a provider of engineered tubular services to the oil and gas industry. 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 technically demanding wells.
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