Equities research analysts expect Franks International NV (NYSE:FI) to post $126.68 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Franks International’s earnings. The highest sales estimate is $128.40 million and the lowest is $124.39 million. Franks International reported sales of $108.08 million in the same quarter last year, which indicates a positive year over year growth rate of 17.2%. The company is scheduled to announce its next earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Franks International will report full year sales of $506.08 million for the current financial year, with estimates ranging from $498.60 million to $513.80 million. For the next fiscal year, analysts expect that the business will report sales of $586.15 million, with estimates ranging from $554.50 million to $620.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Franks International.
Franks International (NYSE:FI) last issued its earnings results on Wednesday, August 8th. The pipeline company reported ($0.12) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.12). Franks International had a negative net margin of 36.85% and a negative return on equity of 13.50%. The firm had revenue of $132.09 million during the quarter, compared to analyst estimates of $121.91 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share. Franks International’s revenue for the quarter was up 12.3% on a year-over-year basis.
Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $11.00 target price on shares of Franks International in a research note on Thursday, August 9th. Jefferies Financial Group reissued a “hold” rating and issued a $9.00 target price on shares of Franks International in a research note on Thursday, August 9th. ValuEngine raised shares of Franks International from a “hold” rating to a “buy” rating in a research note on Monday, July 30th. Tudor Pickering downgraded shares of Franks International from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Finally, Barclays reissued a “hold” rating and issued a $7.00 target price on shares of Franks International in a research note on Monday, August 13th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.47.
FI stock traded down $0.09 during trading on Friday, hitting $8.73. 17,752 shares of the company’s stock traded hands, compared to its average volume of 859,826. Franks International has a 52 week low of $4.93 and a 52 week high of $9.75. The firm has a market capitalization of $1.95 billion, a P/E ratio of -14.33 and a beta of 1.20.
In related news, major shareholder Kendall Garrett Mosing sold 3,361,094 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $7.95, for a total value of $26,720,697.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven B. Mosing sold 210,227 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $8.37, for a total transaction of $1,759,599.99. Following the completion of the transaction, the director now directly owns 3,222,578 shares in the company, valued at approximately $26,972,977.86. The disclosure for this sale can be found here. Insiders sold a total of 5,742,862 shares of company stock worth $47,062,747 in the last ninety days. 67.60% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. California Public Employees Retirement System boosted its holdings in shares of Franks International by 89.7% in the 1st quarter. California Public Employees Retirement System now owns 28,069 shares of the pipeline company’s stock valued at $152,000 after buying an additional 13,269 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Franks International in the 1st quarter worth approximately $230,000. SeaBridge Investment Advisors LLC acquired a new stake in Franks International in the 2nd quarter worth approximately $257,000. Rhumbline Advisers boosted its stake in Franks International by 52.0% in the 2nd quarter. Rhumbline Advisers now owns 70,914 shares of the pipeline company’s stock worth $553,000 after purchasing an additional 24,262 shares in the last quarter. Finally, Price Capital Management Inc. acquired a new stake in Franks International in the 2nd quarter worth approximately $770,000. 34.10% of the stock is currently owned by institutional investors.
Franks International Company Profile
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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