Evercore ISI Group Downgrades Franks International NV to Hold

Brokerage firm Evercore ISI Group Downgrades its rating on Franks International NV(NYSE:FI). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Evercore ISI Group was issued on Jun 29, 2016.

In a different note, JP Morgan said it Initiates Coverage on Franks International NV, according to a research note issued on Jun 22, 2016. The shares have been rated ‘Neutral’ by the firm. On Apr 19, 2016, Morgan Stanley said it Maintains its rating on Franks International NV. In the research note, the firm Raises the price-target to $17.00 per share. The shares have been rated ‘Overweight’ by the firm. On Apr 19, 2016, Seaport Global said it Downgrades its rating on Franks International NV. The shares have been rated ‘Neutral’ by the firm.

Franks International NV (FI) made into the market gainers list on Fridays trading session with the shares advancing 2.81% or 0.41 points. Due to strong positive momentum, the stock ended at $15.02, which is also near the day’s high of $15.08. The stock began the session at $14.64 and the volume stood at 4,37,913 shares. The 52-week high of the shares is $18.4475 and the 52 week low is $12.34. The company has a current market capitalization of $2,334 M and it has 15,54,03,850 shares in outstanding.

Franks International NV(FI) last announced its earnings results on Feb 29, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $202.98M. Analysts had an estimated revenue of $222.88M. Earnings per share were $0.10. Analysts had estimated an EPS of $0.10.

Several Insider Transactions has been reported to the SEC. On Mar 7, 2016, Burney J. Jr. Latiolais (officer ) sold 3,672 shares at $15.24 per share price.Also, 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *