Franks International NV Sets New 12-Month Low Following Weak Earnings (FI)
Shares of Franks International NV (NYSE:FI) hit a new 52-week low during mid-day trading on Friday following a dissappointing earnings announcement, AnalystRatingsNetwork.com reports. The stock traded as low as $20.73 and last traded at $21.00, with a volume of 1,624,608 shares traded. The stock had previously closed at $22.85.
The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by $0.08. The company had revenue of $272.90 million for the quarter, compared to the consensus estimate of $277.99 million. The company’s revenue for the quarter was down 6.9% on a year-over-year basis.
A number of research firms have recently commented on FI. Analysts at Tudor Pickering downgraded shares of Franks International NV from a “buy” rating to an “accumulate” rating in a research note on Wednesday, July 23rd. Separately, analysts at Jefferies Group initiated coverage on shares of Franks International NV in a research note on Wednesday, July 16th. They set a “hold” rating and a $25.00 price target on the stock. Finally, analysts at Guggenheim upgraded shares of Franks International NV from a “neutral” rating to a “buy” rating in a research note on Monday, May 19th. They now have a $30.00 price target on the stock, up previously from $27.00. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $30.63.
The stock’s 50-day moving average is $23.45 and its 200-day moving average is $23.91. The company has a market cap of $3.189 billion and a P/E ratio of 13.24.
Frank’s International NV is a global provider of engineered tubular services to the oil and gas industry.
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