Frank’s International N.V. (NYSE:FI) announced its earnings results on Thursday. The pipeline company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11), Briefing.com reports. Frank’s International N.V. had a negative net margin of 26.21% and a negative return on equity of 9.16%. The business had revenue of $108.08 million during the quarter, compared to analysts’ expectations of $120.42 million. During the same period in the prior year, the company earned ($0.14) earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year.
Frank’s International N.V. (NYSE:FI) traded up $0.40 during midday trading on Friday, reaching $7.06. 2,218,705 shares of the company traded hands, compared to its average volume of 1,014,957.
A number of brokerages have recently commented on FI. Jefferies Group LLC reaffirmed a “hold” rating on shares of Frank’s International N.V. in a report on Friday, July 21st. J P Morgan Chase & Co cut shares of Frank’s International N.V. from a “neutral” rating to an “underweight” rating and set a $7.00 target price for the company. in a report on Wednesday, September 27th. Deutsche Bank AG began coverage on shares of Frank’s International N.V. in a report on Tuesday, October 10th. They issued a “hold” rating and a $7.00 target price for the company. Royal Bank Of Canada set a $10.00 target price on shares of Frank’s International N.V. and gave the company a “buy” rating in a report on Sunday, October 8th. Finally, Scotiabank set a $13.00 target price on shares of Frank’s International N.V. and gave the company a “hold” rating in a report on Tuesday, August 8th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $8.25.
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In other Frank’s International N.V. news, Director D. Keith Mosing sold 500,000 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $6.67, for a total value of $3,335,000.00. Following the completion of the transaction, the director now directly owns 796,300 shares of the company’s stock, valued at $5,311,321. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder G. Mosing Family L.L. Kendall sold 1,500,000 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $7.25, for a total transaction of $10,875,000.00. Following the completion of the transaction, the insider now directly owns 11,724,888 shares of the company’s stock, valued at $85,005,438. The disclosure for this sale can be found here. Insiders have sold 4,907,355 shares of company stock valued at $33,779,088 over the last three months. 77.90% of the stock is currently owned by corporate insiders.
Frank’s International N.V. Company Profile
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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