Insider Selling: Franks International NV Insider Unloads 4,924 Shares of Stock (FI)
Franks International NV (NYSE:FI) Insider Burney J. Jr. Latiolais sold 4,924 shares of the company’s stock on the open market in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $20.03, for a total value of $98,627.72. Following the transaction, the insider now directly owns 9,314 shares in the company, valued at approximately $186,559. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Franks International NV (NYSE:FI) traded down 0.15% during mid-day trading on Wednesday, hitting $20.06. The stock had a trading volume of 278,862 shares. Franks International NV has a 1-year low of $19.82 and a 1-year high of $32.70. The stock’s 50-day moving average is $21.60 and its 200-day moving average is $23.56. The company has a market cap of $3.080 billion and a P/E ratio of 17.61. Franks International NV also was the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 2,581,986 shares, an increase of 50.3% from the July 31st total of 1,718,029 shares. Approximately 7.7% of the company’s stock are sold short. Based on an average daily trading volume, of 706,196 shares, the short-interest ratio is presently 3.7 days.
Franks International NV (NYSE:FI) last announced its earnings results on Thursday, August 7th. The company reported $0.23 earnings per share for the quarter, missing the analysts’ 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. Franks International NV’s revenue was down 6.9% compared to the same quarter last year. Analysts expect that Franks International NV will post $1.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 19th. Stockholders of record on Friday, August 29th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Wednesday, August 27th.
FI has been the subject of a number of recent research reports. Analysts at Jefferies Group reiterated a “hold” rating on shares of Franks International NV in a research note on Monday, August 11th. They now have a $22.00 price target on the stock, down previously from $25.00. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Franks International NV in a research note on Monday, August 11th. They now have a $24.00 price target on the stock, down previously from $28.00. Finally, analysts at Global Hunter Securities downgraded shares of Franks International NV from a “buy” rating to an “accumulate” rating in a research note on Monday, August 11th. They now have a $23.00 price target on the stock, down previously from $29.00. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $28.25.
Frank’s International NV is a global provider of engineered tubular services to the oil and gas industry.
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