Franks International (NYSE:FI) Announces Earnings Results

Franks International (NYSE:FI) issued its quarterly earnings data on Tuesday. The pipeline company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01), Briefing.com reports. Franks International had a negative net margin of 13.96% and a negative return on equity of 7.65%. The business had revenue of $155.65 million for the quarter, compared to analyst estimates of $147.60 million. During the same quarter last year, the business earned ($0.12) EPS. Franks International’s revenue for the quarter was up 17.8% compared to the same quarter last year.

Shares of FI traded up $0.04 during mid-day trading on Tuesday, hitting $5.05. The stock had a trading volume of 975,900 shares, compared to its average volume of 668,824. The stock has a market capitalization of $1.19 billion, a P/E ratio of -12.02 and a beta of 1.39. The company’s fifty day moving average price is $5.62. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.30 and a current ratio of 3.95. Franks International has a fifty-two week low of $4.78 and a fifty-two week high of $9.75.

FI has been the subject of a number of recent analyst reports. ValuEngine upgraded Franks International from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Tudor Pickering upgraded Franks International from a “hold” rating to a “buy” rating and set a $5.49 price objective for the company in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research lowered Franks International from a “hold” rating to a “sell” rating in a research note on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $7.94.

In other news, Director Steven B. Mosing sold 103,321 shares of Franks International stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $5.84, for a total value of $603,394.64. Following the completion of the transaction, the director now owns 2,998,819 shares in the company, valued at approximately $17,513,102.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven B. Mosing sold 63,679 shares of Franks International stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $6.01, for a total value of $382,710.79. Following the completion of the transaction, the director now owns 2,998,819 shares of the company’s stock, valued at approximately $18,022,902.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 337,000 shares of company stock valued at $1,999,305. Insiders own 18.20% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in Franks International by 15.0% during the second quarter. Wells Fargo & Company MN now owns 51,405 shares of the pipeline company’s stock valued at $281,000 after purchasing an additional 6,695 shares during the last quarter. Investment Counselors of Maryland LLC acquired a new stake in Franks International during the second quarter valued at $16,332,000. Swiss National Bank boosted its position in Franks International by 16.9% during the second quarter. Swiss National Bank now owns 167,100 shares of the pipeline company’s stock valued at $912,000 after purchasing an additional 24,100 shares during the last quarter. Aperio Group LLC acquired a new stake in Franks International during the second quarter valued at $25,000. Finally, First Trust Advisors LP acquired a new stake in Franks International during the second quarter valued at $1,737,000. Institutional investors own 38.65% of the company’s stock.

About Franks International

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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Earnings History for Franks International (NYSE:FI)

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