Wall Street brokerages expect Franks International NV (NYSE:FI) to announce $126.68 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Franks International’s earnings. The lowest sales estimate is $124.39 million and the highest is $128.40 million. Franks International posted sales of $108.08 million in the same quarter last year, which suggests a positive year over year growth rate of 17.2%. The company is scheduled to report its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Franks International will report full-year sales of $506.08 million for the current fiscal year, with estimates ranging from $498.60 million to $513.80 million. For the next year, analysts forecast that the firm will report sales of $585.98 million per share, with estimates ranging from $554.50 million to $620.40 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Franks International.
Franks International (NYSE:FI) last announced its quarterly earnings results on Wednesday, August 8th. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). Franks International had a negative return on equity of 13.50% and a negative net margin of 36.85%. The company had revenue of $132.09 million for the quarter, compared to the consensus estimate of $121.91 million. During the same quarter in the previous year, the business earned ($0.12) EPS. Franks International’s revenue was up 12.3% compared to the same quarter last year.
A number of research analysts have weighed in on FI shares. Barclays reiterated a “hold” rating and set a $7.00 target price on shares of Franks International in a report on Monday, August 13th. UBS Group upped their target price on Franks International from $4.50 to $7.00 and gave the stock a “sell” rating in a report on Friday, August 10th. Royal Bank of Canada reiterated a “buy” rating and set a $11.00 target price on shares of Franks International in a report on Thursday, August 9th. Seaport Global Securities set a $8.00 target price on Franks International and gave the stock a “hold” rating in a report on Thursday, August 9th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $9.00 target price on shares of Franks International in a report on Thursday, August 9th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Franks International has an average rating of “Hold” and an average price target of $8.31.
In other news, major shareholder Kendall Garrett Mosing sold 3,361,094 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $7.95, for a total value of $26,720,697.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Gregory Stanton Mosing sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $9.00, for a total value of $225,000.00. Following the completion of the sale, the insider now directly owns 20,657 shares in the company, valued at $185,913. The disclosure for this sale can be found here. Insiders have sold a total of 5,293,256 shares of company stock worth $41,750,082 in the last quarter. Company insiders own 67.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of FI. Bank of New York Mellon Corp boosted its position in shares of Franks International by 657.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,095,107 shares of the pipeline company’s stock worth $16,342,000 after purchasing an additional 1,818,428 shares in the last quarter. BlackRock Inc. boosted its position in shares of Franks International by 28.7% in the 2nd quarter. BlackRock Inc. now owns 5,376,225 shares of the pipeline company’s stock worth $41,935,000 after purchasing an additional 1,198,413 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Franks International by 65.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,450,042 shares of the pipeline company’s stock worth $11,310,000 after purchasing an additional 572,032 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Franks International by 7.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 6,662,926 shares of the pipeline company’s stock worth $36,180,000 after purchasing an additional 458,613 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in shares of Franks International by 22.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 1,647,862 shares of the pipeline company’s stock worth $12,853,000 after purchasing an additional 304,158 shares in the last quarter. 34.43% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:FI traded up $0.08 during mid-day trading on Wednesday, reaching $8.58. 578,000 shares of the company’s stock traded hands, compared to its average volume of 888,621. Franks International has a 12-month low of $4.93 and a 12-month high of $9.75. The company has a market cap of $1.97 billion, a PE ratio of -13.99 and a beta of 1.21.
Franks International Company Profile
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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