Franks International NV (FI) Releases Earnings Results, Misses Expectations By $-0.19 EPS

Franks International NV (FI) reported quarterly earnings results on Thursday, Jul-28-2016. The company reported $-0.20 earnings per share for the quarter, missing the analyst consensus estimate by $-0.19. Analysts had a consensus of $-0.01. The company posted revenue of $121.00 million in the period, compared to analysts expectations of $140.13 million. The company’s revenue was down -52.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.

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.

Franks International NV closed down -2.42 points or -16.36% at $12.37 with 58,22,622 shares getting traded on Thursday. Post opening the session at $13.25, the shares hit an intraday low of $12.1 and an intraday high of $13.62 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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