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.
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.
TRADEMARK VIOLATION NOTICE: This piece was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international trademark & copyright law. The original version of this piece can be accessed at https://www.americanbankingnews.com/2018/01/21/zacks-analysts-anticipate-franks-international-nv-fi-will-post-quarterly-sales-of-118-23-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Franks International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franks International and related companies with MarketBeat.com's FREE daily email newsletter.