Analysts forecast that Franks International NV (NYSE:FI) will report sales of $113.22 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Franks International NV’s earnings. The highest sales estimate is $117.9 million and the lowest is $109.9 million. Franks International NV reported sales of $120.95 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.4%. The business is scheduled to report its next earnings report on Thursday, July 27th.
On average, analysts expect that Franks International NV will report full-year sales of $113.22 million for the current year, with estimates ranging from $450.8 million to $492.7 million. For the next financial year, analysts anticipate that the firm will report sales of $587.91 million per share, with estimates ranging from $540.3 million to $650.9 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Franks International NV.
Franks International NV (NYSE:FI) last released its quarterly earnings results on Tuesday, May 2nd. The pipeline company reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12). The business had revenue of $110.73 million during the quarter, compared to analyst estimates of $107.79 million. Franks International NV had a negative return on equity of 1.79% and a negative net margin of 10.60%. Franks International NV’s revenue was down 27.9% compared to the same quarter last year.
Several equities research analysts have commented on the company. Jefferies Group LLC reissued a “hold” rating and issued a $10.50 target price (down from $11.00) on shares of Franks International NV in a report on Wednesday, May 3rd. Morgan Stanley dropped their target price on Franks International NV from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Monday, May 8th. Zacks Investment Research downgraded Franks International NV from a “hold” rating to a “strong sell” rating in a report on Monday, May 1st. Scotiabank reissued a “hold” rating and issued a $14.00 target price on shares of Franks International NV in a report on Friday, March 31st. Finally, Barclays PLC set a $9.00 target price on Franks International NV and gave the stock a “hold” rating in a report on Monday, May 8th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.32.
In related news, Director Steven B. Mosing sold 2,000,000 shares of the company’s stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $9.00, for a total transaction of $18,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Keith Mosing Family Par Donald sold 248,000 shares of the company’s stock in a transaction 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 sale, the insider now owns 10,252,720 shares of the company’s stock, valued at approximately $124,673,075.20. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 50,000 shares of company stock valued at $494,100 and have sold 2,728,000 shares valued at $25,062,680. 77.40% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. boosted its stake in Franks International NV by 13.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 430,846 shares of the pipeline company’s stock worth $5,601,000 after buying an additional 50,000 shares during the period. Arete Wealth Advisors LLC purchased a new stake in Franks International NV during the third quarter worth approximately $151,000. Gotham Asset Management LLC boosted its stake in Franks International NV by 11.9% in the third quarter. Gotham Asset Management LLC now owns 655,625 shares of the pipeline company’s stock worth $8,523,000 after buying an additional 69,861 shares during the period. Boston Private Wealth LLC boosted its stake in Franks International NV by 31.6% in the third quarter. Boston Private Wealth LLC now owns 21,226 shares of the pipeline company’s stock worth $276,000 after buying an additional 5,100 shares during the period. Finally, Alpine Partners VI LLC purchased a new stake in Franks International NV during the third quarter worth approximately $134,000. Institutional investors own 20.98% of the company’s stock.
Shares of Franks International NV (NYSE:FI) opened at 7.56 on Friday. The stock’s market capitalization is $1.68 billion. The company has a 50-day moving average price of $8.90 and a 200-day moving average price of $11.08. Franks International NV has a 52-week low of $7.50 and a 52-week high of $16.82.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Wednesday, May 31st. Franks International NV’s dividend payout ratio (DPR) is presently -81.08%.
About Franks International NV
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.
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