Frank s International Downgraded to “Overweight” at Goldman Sachs (FI)
Frank s International (NYSE:FI) was downgraded by analysts at Goldman Sachs to an “overweight” rating in a research report issued to clients and investors on Tuesday, AmericanBankingNews.com reports. They currently have a $30.00 price objective on the stock. Goldman Sachs’ price objective indicates a potential upside of 33.33% from the company’s current price.
The analysts wrote, “FI posted a 4Q13 beat of $0.37 vs. Street $0.32 and MS $0.26. Revenue of $282mm was +4% q/q and +8% versus our expectation and company guidance, driven by stronger US revenue than we expected ($114mm, +5% q/q as US offshore revenue grew 15% and was only partly offset by US land revenue declining 8%). EBITDA margin of 37.4% was down 212 bps q/q, largely driven by Int’l EBITDA margin declining 862 bps q/q to 38.0% from 46.6% and also by full-quarter impact of stock comp. We note US EBITDA margin of 43.1% was only down 60 bps q/q despite weakness in the US land space, suggesting a strong underlying margin trend in the US offshore business.”
A number of other analysts have also recently weighed in on FI. Analysts at Howard Weil downgraded shares of Frank s International from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, January 9th. They now have a $30.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Frank s International from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 2nd. They now have a $25.60 price target on the stock. Finally, analysts at Global Hunter Securities initiated coverage on shares of Frank s International in a research note on Tuesday, December 17th. They set a “buy” rating and a $33.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $30.70.
Frank s International (NYSE:FI) traded up 0.49% on Tuesday, hitting $22.61. 532,888 shares of the company’s stock traded hands. Frank s International has a 52-week low of $20.76 and a 52-week high of $32.70. The stock has a 50-day moving average of $23.34 and a 200-day moving average of $26.93. The company has a market cap of $3.471 billion and a price-to-earnings ratio of 9.74.
Frank s International (NYSE:FI) last announced its earnings results on Monday, February 24th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. The company had revenue of $282.10 million for the quarter, compared to the consensus estimate of $266.21 million. Analysts expect that Frank s International will post $1.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 21st. Shareholders of record on Friday, February 28th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Wednesday, February 26th.
Frank s International NV is a Netherlands-based company. It provides a broad and comprehensive range of tubular technologies to the oil and gas industry.
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