Frank’s International NV (FI) Shares Down 2.6%
Frank’s International NV (NYSE:FI) traded down 2.6% during mid-day trading on Tuesday . The stock traded as low as $11.68 and last traded at $11.70, with a volume of 347,873 shares trading hands. The stock had previously closed at $12.01.
Several equities research analysts have recently issued reports on the company. Jefferies Group reaffirmed a “sell” rating on shares of Frank’s International NV in a research report on Tuesday. Seaport Global Securities restated a “neutral” rating on shares of Frank’s International NV in a research note on Friday, August 19th. Scotiabank restated a “sector perform” rating and set a $14.00 price target (down previously from $17.00) on shares of Frank’s International NV in a research note on Sunday, July 31st. TheStreet cut shares of Frank’s International NV from a “hold” rating to a “sell” rating in a research note on Thursday, July 28th. Finally, Barclays PLC cut 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 research note on Friday, July 29th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $15.20.
The company’s market capitalization is $1.83 billion. The firm’s 50 day moving average price is $13.07 and its 200 day moving average price is $14.85.
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 Zacks’ consensus estimate of ($0.01) by $0.13. The company had revenue of $121 million for the quarter, compared to analyst estimates of $142.41 million. The business’s revenue was down 52.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 EPS. On average, equities research analysts expect that Frank’s International NV will post ($0.38) EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Monday, August 29th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.56%.
In other Frank’s International NV news, major shareholder Donald E. Mosing bought 41,000 shares of the firm’s stock in a transaction on Friday, August 5th. The shares were purchased at an average price of $12.15 per share, for a total transaction of $498,150.00. Following the transaction, the insider now directly owns 91,000 shares in the company, valued at approximately $1,105,650. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
An institutional investor recently raised its position in Frank’s International NV stock. Morgan Stanley raised its position in Frank’s International NV (NYSE:FI) by 26.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 729,717 shares of the company’s stock after buying an additional 154,393 shares during the period. Morgan Stanley owned approximately 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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