Franks International NV (NYSE:FI) shares fell 6.1% during trading on Thursday . The company traded as low as $5.54 and last traded at $5.67. 42,623 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 582,540 shares. The stock had previously closed at $6.04.
Separately, Zacks Investment Research cut shares of Franks International from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $8.29.
The company has a quick ratio of 3.30, a current ratio of 3.95 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -13.45 and a beta of 1.58.
Franks International (NYSE:FI) last issued its quarterly earnings results on Tuesday, May 7th. The pipeline company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.06). Franks International had a negative return on equity of 7.65% and a negative net margin of 13.96%. The company had revenue of $144.40 million for the quarter, compared to analyst estimates of $136.88 million. During the same period in the prior year, the business earned ($0.18) earnings per share. Franks International’s revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, research analysts predict that Franks International NV will post -0.22 EPS for the current fiscal year.
In other Franks International news, insider Darren C. Miles sold 16,091 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $6.27, for a total value of $100,890.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 18.20% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in FI. Bank of New York Mellon Corp raised its stake in shares of Franks International by 31.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,743,681 shares of the pipeline company’s stock worth $23,816,000 after buying an additional 648,574 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Franks International by 107.3% during the 3rd quarter. Legal & General Group Plc now owns 30,720 shares of the pipeline company’s stock worth $266,000 after buying an additional 15,902 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Franks International by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,337,608 shares of the pipeline company’s stock worth $11,612,000 after buying an additional 20,895 shares during the last quarter. Vanguard Group Inc raised its stake in shares of Franks International by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 1,337,608 shares of the pipeline company’s stock worth $11,612,000 after buying an additional 20,895 shares during the last quarter. Finally, Strs Ohio raised its stake in shares of Franks International by 17.2% during the 4th quarter. Strs Ohio now owns 108,400 shares of the pipeline company’s stock worth $565,000 after buying an additional 15,900 shares during the last quarter. 39.39% of the stock is owned by institutional investors.
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About Franks International (NYSE:FI)
Frank's International N.V. provides various engineered tubular services for the oil and gas exploration and production, and oilfield services companies in the United States, Europe, the Middle East, Africa, Latin America, the Asia Pacific, and internationally. The company operates through four segments: International Services, U.S.
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