Franks International NV (FI) is Downgraded by Jefferies to Underperform, Lowers Price Target to $ 12

Franks International NV (FI) was Downgraded by Jefferies to ” Underperform” while Lowering the Price Target of the company shares to $ 12 from a previous price target of $14.50 . Earlier the firm had a rating of “Hold ” on the company shares. Jefferies advised their investors in a research report released on Jul 11, 2016.

Many Wall Street Analysts have commented on Franks International NV. Shares were Downgraded by Jefferies on Jul 11, 2016 to ” Underperform” and Lowered the Price Target to $ 12 from a previous price target of $14.50 .Shares were Reiterated by RBC Capital Mkts on Jun 30, 2016 to “Sector Perform” and Lowered the Price Target to $ 16 from a previous price target of $18 .JP Morgan Initiated Franks International NV on Jun 22, 2016 to “Neutral”, Price Target of the shares are set at $13.

On the company’s financial health, Franks International NV reported $0.10 EPS for the quarter, based on the information available during the earnings call on Feb 29, 2016. Analyst had a consensus estimate of $0.10. The company had revenue of $203.00 million for the quarter, compared to analysts expectations of $223.36 million. The company’s revenue was down -36.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.22 EPS.

Franks International NV opened for trading at $14.86 and hit $15.1 on the upside on Friday, eventually ending the session at $14.87, with a gain of 0.54% or 0.08 points. The heightened volatility saw the trading volume jump to 4,32,919 shares. Company has a market cap of $2,311 M.

In a different news, on Mar 7, 2016, Burney J. Jr. Latiolais (officer ) sold 3,672 shares at $15.24 per share price. According to the SEC, on Nov 9, 2015, John W Jr Sinders (Executive VP, Administration) sold 15,000 shares at $17.08 per share price. On Aug 11, 2015, Michael C Kearney (director) purchased 7,000 shares at $15.58 per share price, according to the Form-4 filing with the securities and exchange commission.

Frank’s International N.V. (FINV) is a provider of engineered tubular services to the exploration and production companies in both offshore and onshore environments. The Company operates through three business segments: International Services U. S. Services and Tubular Sales. The International Services segment provides tubular services to exploration and production companies in international offshore markets and in several onshore international regions in approximately 60 countries on six continents. The U.S. Services segment provides tubular services in the active onshore oil and gas drilling regions in the United States including the Permian Basin Bakken Shale Barnett Shale Eagle Ford Shale Haynesville Shale Marcellus Shale and Utica Shale as well as in the United States Gulf of Mexico. The Tubular Sales segment designs manufactures and distributes outside diameter (OD) pipe connectors and casing attachments.

Franks International NV

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