Frank’s International N.V. (NYSE:FI) issued its earnings results on Monday. The pipeline company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.02, MarketWatch Earnings reports. The company had revenue of $117.70 million for the quarter, compared to analyst estimates of $113.41 million. Frank’s International N.V. had a negative return on equity of 8.41% and a negative net margin of 36.25%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.20) earnings per share.
Shares of Frank’s International N.V. (NYSE:FI) opened at 7.29 on Tuesday. The stock’s market cap is $1.62 billion. Frank’s International N.V. has a 12 month low of $7.02 and a 12 month high of $14.86. The firm has a 50-day moving average price of $8.22 and a 200-day moving average price of $9.74.
Several brokerages have recently weighed in on FI. Jefferies Group LLC restated a “hold” rating and set a $11.00 target price on shares of Frank’s International N.V. in a report on Wednesday, April 26th. Zacks Investment Research cut Frank’s International N.V. from a “hold” rating to a “strong sell” rating in a report on Monday, May 1st. Morgan Stanley lowered their target price on Frank’s International N.V. from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Monday, May 8th. Barclays PLC set a $9.00 target price on Frank’s International N.V. and gave the stock a “hold” rating in a report on Monday, May 8th. Finally, BidaskClub upgraded Frank’s International N.V. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Six equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. The stock has a consensus rating of “Hold” and an average target price of $10.08.
COPYRIGHT VIOLATION NOTICE: “Frank’s International N.V. (NYSE:FI) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS” was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this piece of content can be viewed at https://stocknewstimes.com/2017/08/08/franks-international-n-v-nysefi-posts-quarterly-earnings-results-misses-estimates-by-0-02-eps.html.
Frank’s International N.V. announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 25th that permits the company to repurchase 1,000% of outstanding shares. This repurchase authorization permits the pipeline company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other Frank’s International N.V. news, major shareholder Wbm Partnership, Lp sold 14,800 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $8.40, for a total transaction of $124,320.00. Following the transaction, the insider now owns 9,903,867 shares of the company’s stock, valued at $83,192,482.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 77.90% of the company’s stock.
A number of institutional investors have recently bought and sold shares of FI. State Street Corp increased its position in Frank’s International N.V. by 17.5% in the fourth quarter. State Street Corp now owns 877,548 shares of the pipeline company’s stock worth $10,803,000 after buying an additional 130,611 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Frank’s International N.V. by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 479,530 shares of the pipeline company’s stock worth $5,903,000 after buying an additional 14,721 shares in the last quarter. Norges Bank bought a new position in Frank’s International N.V. during the fourth quarter worth $5,008,000. Quadrature Capital Ltd bought a new position in Frank’s International N.V. during the fourth quarter worth $253,000. Finally, Kelman Lazarov Inc. increased its position in Frank’s International N.V. by 50.0% in the first quarter. Kelman Lazarov Inc. now owns 11,250 shares of the pipeline company’s stock worth $119,000 after buying an additional 3,750 shares in the last quarter. 30.12% of the stock is currently owned by institutional investors.
About Frank’s International N.V.
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.
Receive News & Ratings for Frank's International N.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frank's International N.V. and related companies with MarketBeat.com's FREE daily email newsletter.
