Frank’s International N.V. (NYSE:FI) declared a quarterly dividend on Tuesday, August 8th, Wall Street Journal reports. Shareholders of record on Thursday, August 31st will be given a dividend of 0.075 per share by the pipeline company on Friday, September 15th. This represents a $0.30 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Tuesday, August 29th.
Frank’s International N.V. has increased its dividend by an average of 81.7% per year over the last three years. Frank’s International N.V. has a dividend payout ratio of -71.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Frank’s International N.V. to earn ($0.26) per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of -115.4%.
Frank’s International N.V. (NYSE:FI) traded up 1.13% on Friday, reaching $6.27. The company’s stock had a trading volume of 1,898,028 shares. The firm’s market cap is $1.40 billion. Frank’s International N.V. has a 52-week low of $6.11 and a 52-week high of $14.86. The stock’s 50 day moving average price is $7.85 and its 200 day moving average price is $9.29.
Frank’s International N.V. announced that its board has authorized a stock repurchase plan on Thursday, May 25th that allows the company to repurchase 1,000% of outstanding shares. This repurchase authorization allows the pipeline company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In related news, major shareholder Keith Mosing Family Par Donald sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $6.67, for a total transaction of $6,670,000.00. Following the transaction, the insider now directly owns 7,302,720 shares in the company, valued at approximately $48,709,142.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Wbm Partnership, Lp sold 14,800 shares of the firm’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 value of $124,320.00. Following the transaction, the insider now owns 9,903,867 shares in the company, valued at $83,192,482.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,514,800 shares of company stock worth $10,129,320. 77.90% of the stock is owned by corporate insiders.
Several analysts have weighed in on FI shares. BidaskClub raised Frank’s International N.V. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Morgan Stanley cut Frank’s International N.V. from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $13.00 to $9.00 in a report on Wednesday, June 21st. Jefferies Group LLC reaffirmed a “hold” rating on shares of Frank’s International N.V. in a report on Friday, July 21st. 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. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of Frank’s International N.V. in a research report on Tuesday, August 8th. Six analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $9.77.
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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