Frank’s International N.V. Announces Quarterly Dividend of $0.08 (NYSE:FI)
Frank’s International N.V. (NYSE:FI) announced a quarterly dividend on Tuesday, August 8th, Wall Street Journal reports. Stockholders of record on Thursday, August 31st will be given a dividend of 0.075 per share by the pipeline company on Friday, September 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Tuesday, August 29th.
Frank’s International N.V. has raised its dividend payment by an average of 81.7% annually over the last three years. Frank’s International N.V. has a payout ratio of -75.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Frank’s International N.V. to earn ($0.21) 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 -142.9%.
Frank’s International N.V. (FI) traded down 3.16% during mid-day trading on Tuesday, hitting $7.06. 1,164,813 shares of the stock were exchanged. The company has a 50-day moving average price of $8.19 and a 200-day moving average price of $9.70. Frank’s International N.V. has a one year low of $7.00 and a one year high of $14.86. The company’s market cap is $1.57 billion.
Frank’s International N.V. (NYSE:FI) last announced its quarterly earnings results on Monday, August 7th. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.02. The company had revenue of $117.70 million during the quarter, compared to analysts’ expectations of $113.41 million. Frank’s International N.V. had a negative net margin of 36.25% and a negative return on equity of 8.41%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.20) EPS. Analysts forecast that Frank’s International N.V. will post ($0.40) earnings per share for the current fiscal year.
In related news, major shareholder Wbm Partnership, Lp sold 14,800 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $8.40, for a total value of $124,320.00. Following the sale, the insider now directly owns 9,903,867 shares of the company’s stock, valued at $83,192,482.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 77.90% of the company’s stock.
FI has been the subject of several recent research reports. Jefferies Group LLC restated a “hold” rating and set a $11.00 target price on shares of Frank’s International N.V. in a report on Wednesday, April 26th. Scotiabank set a $13.00 target price on shares of Frank’s International N.V. and gave the company a “hold” rating in a report on Tuesday. Piper Jaffray Companies set a $8.00 target price on shares of Frank’s International N.V. and gave the company a “hold” rating in a report on Monday. Barclays PLC dropped their target price on shares of Frank’s International N.V. from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Morgan Stanley downgraded shares of Frank’s International N.V. from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $13.00 to $9.00 in a report on Wednesday, June 21st. Six analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $9.77.
Frank’s International N.V. declared that its board has authorized a stock buyback plan on Thursday, May 25th that allows the company to buyback 1,000% of shares. This buyback authorization allows the pipeline company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
Frank’s International N.V. Company Profile
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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