Frank’s International N.V. (NYSE:FI) SVP Alejandro Cestero sold 7,355 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $6.81, for a total value of $50,087.55. Following the transaction, the senior vice president now owns 2,442 shares in the company, valued at $16,630.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Frank’s International N.V. (FI) remained flat at $7.50 during trading on Friday. The stock had a trading volume of 443,731 shares. The stock’s 50-day moving average is $6.95 and its 200-day moving average is $8.53. The company’s market cap is $1.67 billion. Frank’s International N.V. has a 12-month low of $6.04 and a 12-month high of $14.86.
Frank’s International N.V. (NYSE:FI) last released its quarterly earnings results on Monday, August 7th. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.02). Frank’s International N.V. had a negative return on equity of 8.97% and a negative net margin of 35.28%. The company had revenue of $117.70 million for the quarter, compared to analysts’ expectations of $113.41 million. During the same period in the prior year, the business earned ($0.20) EPS. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts predict that Frank’s International N.V. will post ($0.42) EPS for the current fiscal year.
Frank’s International N.V. declared that its board has initiated a share buyback program on Thursday, May 25th that authorizes the company to buyback 1,000% of outstanding shares. This buyback authorization authorizes the pipeline company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend is Tuesday, August 29th. Frank’s International N.V.’s dividend payout ratio is currently -40.00%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in FI. BlueCrest Capital Management Ltd purchased a new stake in Frank’s International N.V. in the 1st quarter valued at approximately $116,000. Boyer & Corporon Wealth Management LLC purchased a new stake in Frank’s International N.V. in the 1st quarter valued at approximately $120,000. Anchor Capital Advisors LLC purchased a new stake in Frank’s International N.V. in the 1st quarter valued at approximately $121,000. Citigroup Inc. boosted its holdings in Frank’s International N.V. by 726.2% in the 2nd quarter. Citigroup Inc. now owns 12,162 shares of the pipeline company’s stock valued at $101,000 after purchasing an additional 10,690 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Frank’s International N.V. by 567.8% in the 2nd quarter. Legal & General Group Plc now owns 14,305 shares of the pipeline company’s stock valued at $118,000 after purchasing an additional 12,163 shares in the last quarter. 30.38% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on the company. Royal Bank Of Canada reiterated a “buy” rating and set a $10.00 price target on shares of Frank’s International N.V. in a research note on Friday, September 1st. BidaskClub upgraded Frank’s International N.V. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Morgan Stanley downgraded Frank’s International N.V. from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $13.00 to $9.00 in a research note on Wednesday, June 21st. Jefferies Group LLC reiterated a “hold” rating on shares of Frank’s International N.V. in a research note on Friday, July 21st. Finally, J P Morgan Chase & Co dropped their price target on Frank’s International N.V. from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. Frank’s International N.V. currently has a consensus rating of “Hold” and a consensus target price of $9.38.
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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