Brokerages Anticipate Franks International NV (FI) Will Announce Quarterly Sales of $126.68 Million

Equities analysts expect Franks International NV (NYSE:FI) to report sales of $126.68 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Franks International’s earnings. The highest sales estimate is $128.40 million and the lowest is $124.39 million. Franks International posted sales of $108.08 million in the same quarter last year, which indicates a positive year over year growth rate of 17.2%. The business is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, November 6th.

On average, analysts expect that Franks International will report full-year sales of $506.08 million for the current year, with estimates ranging from $498.60 million to $513.80 million. For the next fiscal year, analysts forecast that the firm will post sales of $586.15 million, with estimates ranging from $554.50 million to $620.40 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Franks International.

Franks International (NYSE:FI) last posted its quarterly earnings data on Wednesday, August 8th. The pipeline company reported ($0.12) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.12). The company had revenue of $132.09 million for the quarter, compared to analyst estimates of $121.91 million. Franks International had a negative return on equity of 13.50% and a negative net margin of 36.85%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.12) earnings per share.



A number of research firms recently commented on FI. Tudor Pickering lowered Franks International from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Barclays reaffirmed a “hold” rating and issued a $7.00 price objective on shares of Franks International in a research note on Monday, August 13th. UBS Group lifted their target price on Franks International from $4.50 to $7.00 and gave the stock a “sell” rating in a report on Friday, August 10th. Royal Bank of Canada reiterated a “buy” rating and issued a $11.00 target price on shares of Franks International in a report on Thursday, August 9th. Finally, Seaport Global Securities set a $8.00 target price on Franks International and gave the stock a “hold” rating in a report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Franks International presently has an average rating of “Hold” and an average target price of $8.68.

Shares of Franks International stock traded down $0.28 during midday trading on Monday, reaching $6.75. The company had a trading volume of 647,400 shares, compared to its average volume of 840,902. The firm has a market cap of $1.58 billion, a P/E ratio of -11.31 and a beta of 1.20. Franks International has a fifty-two week low of $4.93 and a fifty-two week high of $9.75.

In other Franks International news, major shareholder William Bradford Mosing sold 101,302 shares of Franks International stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $8.85, for a total value of $896,522.70. Following the completion of the sale, the insider now directly owns 7,128,464 shares in the company, valued at $63,086,906.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Gregory Stanton Mosing sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $9.00, for a total value of $225,000.00. Following the sale, the insider now owns 20,657 shares of the company’s stock, valued at approximately $185,913. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,717,862 shares of company stock valued at $46,849,937. 67.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FI. California Public Employees Retirement System increased its holdings in shares of Franks International by 89.7% during the first quarter. California Public Employees Retirement System now owns 28,069 shares of the pipeline company’s stock valued at $152,000 after acquiring an additional 13,269 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Franks International during the first quarter valued at approximately $230,000. SeaBridge Investment Advisors LLC bought a new stake in shares of Franks International during the second quarter valued at approximately $257,000. Rhumbline Advisers increased its holdings in shares of Franks International by 52.0% during the second quarter. Rhumbline Advisers now owns 70,914 shares of the pipeline company’s stock valued at $553,000 after acquiring an additional 24,262 shares in the last quarter. Finally, Price Capital Management Inc. bought a new stake in shares of Franks International during the second quarter valued at approximately $770,000. Hedge funds and other institutional investors own 34.09% of the company’s stock.

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.

Featured Article: Do stock splits help investors?

Get a free copy of the Zacks research report on Franks International (FI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Franks International (NYSE:FI)

Receive News & Ratings for Franks International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franks International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply