Frank’s International N.V. (FI) To Go Ex-Dividend on August 29th
Frank’s International N.V. (NYSE:FI) declared a quarterly dividend on Tuesday, August 8th, Wall Street Journal reports. Shareholders of record on Thursday, August 31st will be paid a dividend of 0.075 per share by the pipeline company on Friday, September 15th. This represents a $0.30 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend is Tuesday, August 29th.
Frank’s International N.V. has raised its dividend payment by an average of 81.7% per year over the last three years. Frank’s International N.V. has a dividend payout ratio of -69.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Frank’s International N.V. to earn ($0.24) per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of -125.0%.
Shares of Frank’s International N.V. (FI) opened at 6.22 on Thursday. Frank’s International N.V. has a 52-week low of $6.04 and a 52-week high of $14.86. The stock has a 50 day moving average of $7.68 and a 200-day moving average of $9.14. The stock’s market capitalization is $1.39 billion.
Frank’s International N.V. (NYSE:FI) last issued its earnings results on Monday, August 7th. The pipeline company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.02. The business had revenue of $117.70 million during the quarter, compared to the consensus estimate of $113.41 million. Frank’s International N.V. had a negative return on equity of 8.97% and a negative net margin of 35.28%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. On average, equities research analysts predict that Frank’s International N.V. will post ($0.42) EPS for the current fiscal year.
In related news, Director D. Keith Mosing sold 500,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $6.67, for a total transaction of $3,335,000.00. Following the completion of the transaction, the director now directly owns 796,300 shares in the company, valued at $5,311,321. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Wbm Partnership, Lp sold 14,800 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $8.40, for a total value of $124,320.00. Following the transaction, the insider now owns 9,903,867 shares of the company’s stock, valued at $83,192,482.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,514,800 shares of company stock valued at $10,129,320. 77.90% of the stock is owned by company insiders.
Frank’s International N.V. announced that its Board of Directors has approved a share buyback plan on Thursday, May 25th that permits the company to repurchase 1,000% of shares. This repurchase authorization permits the pipeline company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Several research analysts recently issued reports on FI shares. BidaskClub raised Frank’s International N.V. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Morgan Stanley cut Frank’s International N.V. from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $13.00 to $9.00 in a research report on Wednesday, June 21st. Jefferies Group LLC reissued a “hold” rating on shares of Frank’s International N.V. in a research report on Friday, July 21st. Zacks Investment Research cut Frank’s International N.V. from a “hold” rating to a “strong sell” rating in a research report on Monday, May 1st. Finally, Seaport Global Securities reissued a “neutral” rating on shares of Frank’s International N.V. in a research report on Tuesday, August 8th. Six research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. Frank’s International N.V. presently has an average rating of “Hold” and a consensus price target of $9.77.
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Frank’s International N.V. 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.
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