Zacks: Analysts Anticipate Franks International NV (FI) Will Post Quarterly Sales of $118.23 Million

Brokerages forecast that Franks International NV (NYSE:FI) will post sales of $118.23 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Franks International’s earnings, with the lowest sales estimate coming in at $114.70 million and the highest estimate coming in at $126.30 million. Franks International reported sales of $107.99 million in the same quarter last year, which would suggest a positive year over year growth rate of 9.5%. The business is expected to announce its next quarterly earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Franks International will report full year sales of $118.23 million for the current financial year, with estimates ranging from $451.20 million to $476.48 million. For the next financial year, analysts anticipate that the business will post sales of $514.79 million per share, with estimates ranging from $485.00 million to $534.90 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Franks International.

Franks International (NYSE:FI) last released its earnings results on Thursday, November 2nd. The pipeline company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $108.08 million during the quarter, compared to the consensus estimate of $120.42 million. Franks International had a negative net margin of 26.21% and a negative return on equity of 9.25%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.14) EPS.

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Franks International from a “neutral” rating to an “underweight” rating and set a $7.00 target price for the company. in a research report on Wednesday, September 27th. Jefferies Group set a $9.00 target price on shares of Franks International and gave the company a “hold” rating in a research report on Thursday, October 5th. Zacks Investment Research downgraded shares of Franks International from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Deutsche Bank assumed coverage on shares of Franks International in a research report on Tuesday, October 10th. They set a “hold” rating and a $7.00 target price for the company. Finally, Royal Bank of Canada set a $10.00 target price on shares of Franks International and gave the company a “buy” rating in a research report on Sunday, October 8th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $7.61.

In related news, Director D. Keith Mosing sold 350,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $7.25, for a total value of $2,537,500.00. Following the transaction, the director now directly owns 446,300 shares in the company, valued at approximately $3,235,675. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Frank Mosing Family L. Michael sold 45,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $7.28, for a total value of $327,600.00. Following the completion of the transaction, the insider now owns 9,273,667 shares in the company, valued at $67,512,295.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,796,592 shares of company stock valued at $29,774,337. Insiders own 77.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FI. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Franks International by 207.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 9,096,428 shares of the pipeline company’s stock worth $70,224,000 after purchasing an additional 6,137,315 shares in the last quarter. Citadel Advisors LLC lifted its holdings in shares of Franks International by 10,360.6% in the 2nd quarter. Citadel Advisors LLC now owns 1,260,082 shares of the pipeline company’s stock worth $10,446,000 after purchasing an additional 1,248,036 shares in the last quarter. State Street Corp lifted its holdings in shares of Franks International by 39.2% in the 2nd quarter. State Street Corp now owns 1,420,473 shares of the pipeline company’s stock worth $11,779,000 after purchasing an additional 399,679 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Franks International by 128.9% in the 2nd quarter. Northern Trust Corp now owns 648,873 shares of the pipeline company’s stock worth $5,378,000 after purchasing an additional 365,398 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Franks International by 4.6% in the 2nd quarter. FMR LLC now owns 6,873,830 shares of the pipeline company’s stock worth $56,984,000 after purchasing an additional 301,283 shares in the last quarter. Institutional investors own 31.48% of the company’s stock.

Franks International (NYSE FI) traded up $0.05 during trading hours on Friday, reaching $7.40. 352,280 shares of the company’s stock were exchanged, compared to its average volume of 728,564. The firm has a market cap of $1,650.99, a P/E ratio of -13.96 and a beta of 1.10. Franks International has a twelve month low of $5.79 and a twelve month high of $13.00.

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Franks International 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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Earnings History and Estimates for Franks International (NYSE:FI)

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