Franks International (NYSE:FI) Downgraded to Hold at Zacks Investment Research

Franks International (NYSE:FI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Frank’s International N.V. is a provider of engineered tubular services to the oil and gas industry. Its tubular services include the handling and installation of multiple joints of pipe to establish a cased wellbore; and the installation of smaller diameter pipe inside a cased wellbore to provide a conduit for produced oil and gas to reach the surface. The Company provides its services to exploration and production companies in both offshore and onshore environments, with a focus on complex and technically demanding wells. Frank’s International N.V. is based in Amsterdam, the Netherlands. “

NYSE:FI traded down $0.02 on Tuesday, reaching $4.10. The company’s stock had a trading volume of 1,431,000 shares, compared to its average volume of 608,122. Franks International has a 12-month low of $3.98 and a 12-month high of $6.89. The company has a quick ratio of 3.14, a current ratio of 3.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $962.90 million, a price-to-earnings ratio of -9.76 and a beta of 1.53. The stock has a 50 day moving average price of $5.07 and a 200 day moving average price of $5.06.

Franks International (NYSE:FI) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.02). Franks International had a negative net margin of 14.18% and a negative return on equity of 7.98%. The firm had revenue of $140.42 million during the quarter, compared to analyst estimates of $157.87 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities research analysts expect that Franks International will post -0.28 EPS for the current fiscal year.

In other news, Director Steven B. Mosing sold 369,200 shares of Franks International stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $5.47, for a total value of $2,019,524.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 18.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of FI. Price T Rowe Associates Inc. MD grew its stake in Franks International by 16.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 15,508,859 shares of the pipeline company’s stock worth $84,678,000 after purchasing an additional 2,180,324 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Franks International by 12.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,918,086 shares of the pipeline company’s stock worth $51,861,000 after purchasing an additional 1,188,338 shares in the last quarter. BlackRock Inc. grew its stake in Franks International by 30.5% during the 2nd quarter. BlackRock Inc. now owns 6,852,570 shares of the pipeline company’s stock worth $37,415,000 after purchasing an additional 1,601,376 shares in the last quarter. State Street Corp grew its stake in Franks International by 6.9% during the 3rd quarter. State Street Corp now owns 2,235,203 shares of the pipeline company’s stock worth $10,633,000 after purchasing an additional 144,282 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Franks International by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,617,629 shares of the pipeline company’s stock worth $8,832,000 after purchasing an additional 75,881 shares in the last quarter. 40.09% of the stock is owned by institutional investors and hedge funds.

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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