Franks International NV (fi) Declares $0.08 Quarterly Dividend
Franks International NV (NYSE:fi) announced a quarterly dividend on Tuesday, May 2nd. Investors of record on Friday, June 2nd will be paid a dividend of 0.075 per share by the pipeline company on Friday, June 16th. This represents a $0.30 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Wednesday, May 31st.
Franks International NV has raised its dividend payment by an average of 81.7% per year over the last three years. Franks International NV has a payout ratio of -78.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Franks International NV to earn ($0.20) per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of -150.0%.
Shares of Franks International NV (NYSE:FI) traded down 1.70% during midday trading on Friday, reaching $7.51. The company had a trading volume of 137,319 shares. The company’s 50 day moving average price is $8.98 and its 200 day moving average price is $11.11. The stock’s market capitalization is $1.67 billion. Franks International NV has a 52-week low of $7.50 and a 52-week high of $16.82.
Franks International NV (NYSE:FI) last issued its quarterly earnings results on Tuesday, May 2nd. The pipeline company reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12). The firm had revenue of $110.73 million during the quarter, compared to the consensus estimate of $107.79 million. Franks International NV had a negative return on equity of 1.79% and a negative net margin of 10.60%. The business’s quarterly revenue was down 27.9% compared to the same quarter last year. Equities research analysts expect that Franks International NV will post ($0.40) earnings per share for the current year.
In related news, major shareholder Keith Mosing Family Par Donald sold 248,000 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $12.16, for a total value of $3,015,680.00. Following the completion of the transaction, the insider now owns 10,252,720 shares in the company, valued at approximately $124,673,075.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven B. Mosing sold 2,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $9.00, for a total transaction of $18,000,000.00. The disclosure for this sale can be found here. In the last quarter, insiders bought 50,000 shares of company stock valued at $494,100 and sold 2,728,000 shares valued at $25,062,680. Insiders own 77.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Credit Suisse AG raised its stake in Franks International NV by 74.5% in the first quarter. Credit Suisse AG now owns 37,911 shares of the pipeline company’s stock worth $400,000 after buying an additional 16,188 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Franks International NV by 77.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 164,063 shares of the pipeline company’s stock worth $1,735,000 after buying an additional 71,834 shares in the last quarter. Morgan Stanley raised its stake in Franks International NV by 244.4% in the first quarter. Morgan Stanley now owns 137,236 shares of the pipeline company’s stock worth $1,451,000 after buying an additional 97,391 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Franks International NV by 61.1% in the first quarter. Dimensional Fund Advisors LP now owns 772,676 shares of the pipeline company’s stock worth $8,166,000 after buying an additional 293,146 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Franks International NV by 7.2% in the first quarter. California Public Employees Retirement System now owns 19,300 shares of the pipeline company’s stock worth $204,000 after buying an additional 1,300 shares in the last quarter. 20.98% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on FI shares. Tudor Pickering started coverage on Franks International NV in a research note on Thursday, March 23rd. They set a “hold” rating on the stock. Jefferies Group LLC restated a “hold” rating and set a $11.00 price objective on shares of Franks International NV in a research note on Wednesday, April 26th. Guggenheim cut Franks International NV from a “buy” rating to a “hold” rating in a research note on Wednesday, March 1st. Zacks Investment Research upgraded Franks International NV from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Wednesday, March 1st. Finally, Scotiabank set a $14.00 price objective on Franks International NV and gave the company a “hold” rating in a research note on Friday, February 24th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company. Franks International NV has an average rating of “Hold” and an average target price of $12.32.
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About Franks International NV
Frank’s International N.V. (FINV) is a provider of engineered tubular services, tubular fabrication and specialty well construction and well intervention solutions to the oil and gas industry. The Company operates through four business segments: International Services, U. S. Services, Tubular Sales and Blackhawk.
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