Franks International (NYSE:FI) released its earnings results on Tuesday. The pipeline company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.05, Morningstar.com reports. The company had revenue of $129.00 million for the quarter, compared to the consensus estimate of $126.82 million. Franks International had a negative net margin of 36.85% and a negative return on equity of 13.50%. Franks International’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) EPS.
FI stock opened at $7.61 on Wednesday. The firm has a market capitalization of $1.61 billion, a PE ratio of -12.48 and a beta of 1.32. Franks International has a 12 month low of $4.93 and a 12 month high of $9.75.
In related news, major shareholder Wbm Partnership, Lp sold 177,130 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $8.83, for a total value of $1,564,057.90. Following the completion of the transaction, the insider now directly owns 7,128,464 shares in the company, valued at approximately $62,944,337.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Kendall Garrett Mosing sold 3,361,094 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $7.95, for a total transaction of $26,720,697.30. The disclosure for this sale can be found here. Insiders sold a total of 5,692,862 shares of company stock worth $46,624,937 over the last ninety days. Insiders own 67.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. California Public Employees Retirement System raised its position in shares of Franks International by 89.7% in the first quarter. California Public Employees Retirement System now owns 28,069 shares of the pipeline company’s stock valued at $152,000 after buying an additional 13,269 shares during the last quarter. Rhumbline Advisers raised its position in shares of Franks International by 52.0% in the second quarter. Rhumbline Advisers now owns 70,914 shares of the pipeline company’s stock valued at $553,000 after buying an additional 24,262 shares during the last quarter. SeaBridge Investment Advisors LLC acquired a new stake in shares of Franks International in the second quarter valued at about $257,000. Swiss National Bank raised its position in shares of Franks International by 40.4% in the second quarter. Swiss National Bank now owns 136,200 shares of the pipeline company’s stock valued at $1,062,000 after buying an additional 39,200 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Franks International in the first quarter valued at about $230,000. Institutional investors and hedge funds own 34.11% of the company’s stock.
Several research firms have weighed in on FI. Zacks Investment Research raised shares of Franks International from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research report on Wednesday, October 31st. Tudor Pickering downgraded shares of Franks International from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Barclays reissued a “hold” rating and set a $7.00 target price on shares of Franks International in a research report on Monday, August 13th. UBS Group boosted their target price on shares of Franks International from $4.50 to $7.00 and gave the stock a “sell” rating in a research report on Friday, August 10th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Franks International in a report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Franks International currently has a consensus rating of “Hold” and an average target price of $8.07.
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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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