JP Morgan Initiates Coverage on Franks International NV to Neutral

JP Morgan Initiates Coverage on Franks International NV(NYSE:FI). The shares have been rated Neutral. The rating by JP Morgan was issued on Jun 22, 2016.

In a different note, 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) shares turned negative on Mondays trading session with the shares closing down -1.09 points or -6.98% at a volume of 8,56,463. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $15.49. The peak price level was also seen at $15.49 while the days lowest was $14.495. Finally the shares closed at $14.52. The 52-week high of the shares is $19.275 while the 52-week low is $12.34. According to the latest information available, the market cap of the company is $2,256 M.

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.

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