Forum Energy Technologies Inc (NYSE:FET) – Equities research analysts at Capital One Financial issued their FY2019 earnings per share (EPS) estimates for Forum Energy Technologies in a report issued on Friday. Capital One Financial analyst J. Gibney forecasts that the oil and gas company will post earnings per share of $0.52 for the year. Capital One Financial currently has a “Overweight” rating on the stock.
Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). Forum Energy Technologies had a negative net margin of 6.99% and a negative return on equity of 3.11%. The business had revenue of $247.70 million during the quarter, compared to analyst estimates of $249.85 million. During the same quarter in the prior year, the company earned ($0.16) earnings per share. The company’s quarterly revenue was up 68.4% on a year-over-year basis.
Several other equities analysts have also weighed in on FET. Zacks Investment Research lowered shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Barclays restated a “hold” rating and issued a $17.00 price objective on shares of Forum Energy Technologies in a report on Sunday, November 5th. Jefferies Group set a $17.00 price objective on shares of Forum Energy Technologies and gave the company a “hold” rating in a report on Thursday, January 4th. Cowen set a $13.00 price objective on shares of Forum Energy Technologies and gave the company a “hold” rating in a report on Thursday, January 11th. Finally, B. Riley set a $13.00 price objective on shares of Forum Energy Technologies and gave the company a “neutral” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Forum Energy Technologies currently has an average rating of “Hold” and an average price target of $16.50.
Shares of Forum Energy Technologies (NYSE:FET) traded up $0.95 during midday trading on Monday, reaching $12.35. 1,242,977 shares of the company traded hands, compared to its average volume of 1,266,716. Forum Energy Technologies has a fifty-two week low of $10.05 and a fifty-two week high of $23.00. The firm has a market capitalization of $1,237.71, a price-to-earnings ratio of -19.19 and a beta of 1.70. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.74 and a quick ratio of 1.76.
Large investors have recently modified their holdings of the business. Nationwide Fund Advisors increased its stake in Forum Energy Technologies by 1.7% in the second quarter. Nationwide Fund Advisors now owns 66,648 shares of the oil and gas company’s stock valued at $1,040,000 after purchasing an additional 1,083 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Forum Energy Technologies by 69.7% in the second quarter. Goldman Sachs Group Inc. now owns 186,810 shares of the oil and gas company’s stock valued at $2,915,000 after purchasing an additional 76,721 shares in the last quarter. State Street Corp increased its stake in Forum Energy Technologies by 10.8% in the second quarter. State Street Corp now owns 1,770,754 shares of the oil and gas company’s stock valued at $27,626,000 after purchasing an additional 172,953 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Forum Energy Technologies by 15.8% in the second quarter. TIAA CREF Investment Management LLC now owns 185,211 shares of the oil and gas company’s stock valued at $2,889,000 after purchasing an additional 25,267 shares in the last quarter. Finally, Contrarius Investment Management Ltd bought a new stake in Forum Energy Technologies in the third quarter valued at approximately $3,883,000. 95.12% of the stock is owned by hedge funds and other 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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