Scotiabank set a $13.00 target price on Frank’s International N.V. (NYSE:FI) in a research note issued to investors on Tuesday morning. The brokerage currently has a hold rating on the pipeline company’s stock.
A number of other equities research analysts have also commented on the company. Zacks Investment Research lowered Frank’s International N.V. from a hold rating to a strong sell rating in a research report on Monday, May 1st. Seaport Global Securities lowered Frank’s International N.V. from a neutral rating to a sell rating and reduced their price target for the company from $7.00 to $6.00 in a research report on Wednesday, June 21st. BidaskClub upgraded Frank’s International N.V. from a strong sell rating to a sell rating in a research report on Tuesday, June 13th. Morgan Stanley reduced their price target on Frank’s International N.V. from $14.00 to $13.00 and set an equal weight rating on the stock in a research report on Monday, May 8th. Finally, Jefferies Group LLC reiterated a hold rating and issued a $11.00 price target on shares of Frank’s International N.V. in a research report on Wednesday, April 26th. Five equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. The stock has an average rating of Hold and an average price target of $9.77.
Frank’s International N.V. (FI) opened at 7.16 on Tuesday. The firm has a 50-day moving average price of $8.06 and a 200 day moving average price of $9.50. Frank’s International N.V. has a 1-year low of $6.92 and a 1-year high of $14.86. The firm’s market cap is $1.60 billion.
Frank’s International N.V. (NYSE:FI) last released its quarterly earnings results on Monday, August 7th. The pipeline company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.02. Frank’s International N.V. had a negative net margin of 35.28% and a negative return on equity of 8.97%. The company had revenue of $117.70 million during the quarter, compared to the consensus estimate of $113.41 million. During the same quarter last year, the firm posted ($0.20) EPS. The company’s quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts predict that Frank’s International N.V. will post ($0.41) earnings per share for the current year.
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Frank’s International N.V. declared that its board has authorized a share repurchase program on Thursday, May 25th that permits the company to buyback 1,000% of outstanding shares. This buyback authorization permits the pipeline company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.075 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.30 annualized dividend and a dividend yield of 4.19%. Frank’s International N.V.’s payout ratio is -40.00%.
In related news, major shareholder Wbm Partnership, Lp sold 14,800 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $8.40, for a total transaction of $124,320.00. Following the transaction, the insider now directly owns 9,903,867 shares of the company’s stock, valued at approximately $83,192,482.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 77.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in Frank’s International N.V. by 206.7% in the first quarter. Wells Fargo & Company MN now owns 4,311,491 shares of the pipeline company’s stock worth $45,573,000 after buying an additional 2,905,522 shares during the period. Massachusetts Financial Services Co. MA increased its position in Frank’s International N.V. by 117.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,609,972 shares of the pipeline company’s stock worth $48,727,000 after buying an additional 2,490,837 shares during the period. Wedge Capital Management L L P NC purchased a new position in Frank’s International N.V. during the first quarter worth $23,095,000. Citadel Advisors LLC increased its position in Frank’s International N.V. by 10,360.6% in the second quarter. Citadel Advisors LLC now owns 1,260,082 shares of the pipeline company’s stock worth $10,446,000 after buying an additional 1,248,036 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Frank’s International N.V. during the first quarter worth $6,420,000. 30.12% of the stock is currently owned by institutional investors and hedge funds.
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.
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