FTS International (NYSE:FTSI) Cut to Market Perform at Cowen

Cowen cut shares of FTS International (NYSE:FTSI) from an outperform rating to a market perform rating in a research report report published on Thursday morning, The Fly reports.

FTSI has been the subject of a number of other reports. Zacks Investment Research cut shares of FTS International from a hold rating to a sell rating in a research note on Wednesday, July 3rd. Wells Fargo & Co reaffirmed a hold rating on shares of FTS International in a research note on Thursday, June 27th. Piper Jaffray Companies cut shares of FTS International from an overweight rating to a neutral rating and dropped their price target for the stock from $9.25 to $6.00 in a research note on Tuesday, June 25th. Bank of America cut shares of FTS International from a buy rating to a neutral rating and dropped their price target for the stock from $7.00 to $6.25 in a research note on Wednesday, July 10th. Finally, Citigroup cut shares of FTS International from a buy rating to a neutral rating and dropped their price target for the stock from $8.00 to $6.00 in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $8.25.

FTS International stock opened at $3.02 on Thursday. The company’s 50-day moving average price is $3.05 and its 200-day moving average price is $6.86. FTS International has a twelve month low of $2.32 and a twelve month high of $13.65. The company has a quick ratio of 2.49, a current ratio of 2.95 and a debt-to-equity ratio of 8.49. The company has a market cap of $331.46 million, a PE ratio of 3.53, a price-to-earnings-growth ratio of 4.76 and a beta of 1.71.

FTS International (NYSE:FTSI) last posted its earnings results on Tuesday, July 30th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). FTS International had a return on equity of 130.74% and a net margin of 2.62%. The business had revenue of $225.80 million during the quarter, compared to the consensus estimate of $236.09 million. During the same quarter last year, the firm earned $0.95 earnings per share. The business’s quarterly revenue was down 54.2% on a year-over-year basis. As a group, sell-side analysts expect that FTS International will post 0.11 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA boosted its position in FTS International by 262.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,459 shares of the company’s stock valued at $75,000 after buying an additional 5,403 shares during the period. Aperio Group LLC purchased a new stake in FTS International in the 2nd quarter valued at about $52,000. SG Americas Securities LLC purchased a new stake in FTS International in the 1st quarter valued at about $101,000. Capital Fund Management S.A. purchased a new stake in FTS International in the 2nd quarter valued at about $64,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in FTS International in the 2nd quarter valued at about $93,000. 63.15% of the stock is owned by institutional investors.

About FTS International

FTS International, Inc provides hydraulic fracturing services in North America. Its services enhance hydrocarbon flow from oil and natural gas wells drilled by exploration and production companies (E&P), in shale and other unconventional resource formations. The company's wireline services primarily consist of setting plugs between hydraulic fracturing stages, creating perforations within hydraulic fracturing stages, and logging the characteristics of resource formations.

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