Franks International (FI) Trading 5.5% Higher on Strong Earnings

Shares of Franks International NV (NYSE:FI) traded up 5.5% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $8.12 and last traded at $7.61. 1,380,588 shares changed hands during trading, an increase of 66% from the average session volume of 833,958 shares. The stock had previously closed at $7.21.

The pipeline company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.05. The firm had revenue of $129.00 million for the quarter, compared to analysts’ expectations of $126.82 million. Franks International had a negative net margin of 36.85% and a negative return on equity of 13.50%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) EPS.

Several research analysts have recently weighed in on the stock. UBS Group boosted their price target on shares of Franks International from $4.50 to $7.00 and gave the company a “sell” rating in a research report on Friday, August 10th. Tudor Pickering cut shares of Franks International from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Zacks Investment Research raised shares of Franks International from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research report on Wednesday, October 31st. ValuEngine raised shares of Franks International from a “hold” rating to a “buy” rating in a research report on Monday, July 30th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $6.75 price target on shares of Franks International in a research report on Friday, July 20th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $8.07.

In related news, major shareholder Erich Mosing sold 11,900 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $8.70, for a total value of $103,530.00. Following the sale, the insider now directly owns 176,757 shares in the company, valued at approximately $1,537,785.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder William Bradford Mosing sold 101,302 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $8.85, for a total transaction of $896,522.70. Following the completion of the sale, the insider now owns 7,128,464 shares in the company, valued at $63,086,906.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,692,862 shares of company stock worth $46,624,937. 67.60% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its holdings in Franks International by 88.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 421,557 shares of the pipeline company’s stock valued at $3,289,000 after buying an additional 198,409 shares during the period. Price Capital Management Inc. purchased a new stake in Franks International in the 2nd quarter valued at about $770,000. Swiss National Bank increased its stake in Franks International by 40.4% during the second quarter. Swiss National Bank now owns 136,200 shares of the pipeline company’s stock worth $1,062,000 after purchasing an additional 39,200 shares during the period. Bank of New York Mellon Corp increased its stake in Franks International by 657.2% during the second 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 during the period. Finally, Brown Advisory Inc. purchased a new stake in Franks International during the second quarter worth about $1,135,000. Hedge funds and other institutional investors own 34.11% of the company’s stock.

The company has a market capitalization of $1.61 billion, a PE ratio of -12.48 and a beta of 1.32.

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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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