Forum Energy Technologies Inc (NYSE:FET) – Research analysts at Jefferies Group decreased their FY2017 EPS estimates for shares of Forum Energy Technologies in a research report issued on Thursday. Jefferies Group analyst B. Handler now expects that the oil and gas company will post earnings per share of ($0.37) for the year, down from their previous estimate of ($0.36). Jefferies Group has a “Hold” rating and a $17.00 price target on the stock. Jefferies Group also issued estimates for Forum Energy Technologies’ Q4 2017 earnings at ($0.04) EPS.
Forum Energy Technologies (NYSE:FET) last released its earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.10). The firm had revenue of $198.70 million during the quarter, compared to analyst estimates of $200.96 million. Forum Energy Technologies had a negative net margin of 16.85% and a negative return on equity of 3.97%. The business’s revenue was up 43.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.19) EPS.
FET has been the subject of several other research reports. Zacks Investment Research lowered shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Citigroup raised their target price on shares of Forum Energy Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, October 5th. Deutsche Bank began coverage on shares of Forum Energy Technologies in a report on Tuesday, October 10th. They issued a “hold” rating and a $17.00 target price for the company. Barclays restated a “hold” rating and issued a $17.00 target price on shares of Forum Energy Technologies in a report on Sunday, November 5th. Finally, Cowen set a $11.00 target price on shares of Forum Energy Technologies and gave the stock a “hold” rating in a report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $17.79.
Shares of Forum Energy Technologies (NYSE FET) opened at $16.80 on Monday. The stock has a market cap of $1,820.00, a PE ratio of -13.33 and a beta of 1.66. The company has a quick ratio of 1.76, a current ratio of 3.74 and a debt-to-equity ratio of 0.34. Forum Energy Technologies has a twelve month low of $10.05 and a twelve month high of $26.25.
A number of hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC increased its stake in Forum Energy Technologies by 15.8% in the 3rd quarter. Sterling Capital Management LLC now owns 165,721 shares of the oil and gas company’s stock worth $2,635,000 after buying an additional 22,610 shares during the period. Royce & Associates LP increased its stake in Forum Energy Technologies by 19.6% in the 3rd quarter. Royce & Associates LP now owns 250,319 shares of the oil and gas company’s stock worth $3,980,000 after buying an additional 41,000 shares during the period. Cramer Rosenthal Mcglynn LLC increased its stake in Forum Energy Technologies by 1.4% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 941,660 shares of the oil and gas company’s stock worth $14,972,000 after buying an additional 13,110 shares during the period. Moody Aldrich Partners LLC increased its stake in Forum Energy Technologies by 13.2% in the 3rd quarter. Moody Aldrich Partners LLC now owns 34,703 shares of the oil and gas company’s stock worth $552,000 after buying an additional 4,038 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in Forum Energy Technologies by 5.0% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 499,449 shares of the oil and gas company’s stock worth $7,942,000 after buying an additional 23,945 shares during the period. 95.72% of the stock is currently owned by institutional investors.
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Forum Energy Technologies Company Profile
Forum Energy Technologies, Inc is an oilfield products company. The Company designs, manufactures and distributes products, and engages in aftermarket services, parts supply and related services. The Company operates through three segments: Drilling & Subsea, Completions, and Production & Infrastructure.
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