$246.21 Million in Sales Expected for Forum Energy Technologies Inc (FET) This Quarter

Equities research analysts predict that Forum Energy Technologies Inc (NYSE:FET) will post sales of $246.21 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Forum Energy Technologies’ earnings. The highest sales estimate is $250.00 million and the lowest is $243.10 million. Forum Energy Technologies reported sales of $171.10 million in the same quarter last year, which indicates a positive year-over-year growth rate of 43.9%. The company is expected to announce its next earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Forum Energy Technologies will report full-year sales of $246.21 million for the current year, with estimates ranging from $1.03 billion to $1.12 billion. For the next financial year, analysts forecast that the business will post sales of $1.24 billion per share, with estimates ranging from $1.08 billion to $1.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Forum Energy Technologies.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Thursday, February 8th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $247.70 million for the quarter, compared to the consensus estimate of $249.85 million. During the same quarter last year, the company earned ($0.16) earnings per share. The firm’s revenue was up 68.4% on a year-over-year basis.

A number of equities research analysts have issued reports on the stock. Jefferies Group set a $17.00 price target on shares of Forum Energy Technologies and gave the company a “hold” rating in a report on Thursday, January 4th. Piper Jaffray Companies set a $13.00 price target on shares of Forum Energy Technologies and gave the company a “hold” rating in a report on Monday, February 12th. Zacks Investment Research cut shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a report on Thursday, February 15th. TheStreet upgraded shares of Forum Energy Technologies from a “d+” rating to a “c-” rating in a report on Friday, February 9th. Finally, Deutsche Bank decreased their price target on shares of Forum Energy Technologies from $17.00 to $16.00 and set a “hold” rating for the company in a report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $16.40.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FET. TIAA CREF Investment Management LLC lifted its stake in shares of 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 buying an additional 25,267 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Forum Energy Technologies by 38.5% in the second quarter. Ameriprise Financial Inc. now owns 170,365 shares of the oil and gas company’s stock valued at $2,658,000 after buying an additional 47,357 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Forum Energy Technologies by 10.7% in the second quarter. New York State Common Retirement Fund now owns 115,546 shares of the oil and gas company’s stock valued at $1,803,000 after buying an additional 11,199 shares during the period. UBS Asset Management Americas Inc. lifted its stake in shares of Forum Energy Technologies by 34.4% in the second quarter. UBS Asset Management Americas Inc. now owns 28,917 shares of the oil and gas company’s stock valued at $451,000 after buying an additional 7,397 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Forum Energy Technologies by 7.8% in the second quarter. Northern Trust Corp now owns 1,318,240 shares of the oil and gas company’s stock valued at $20,565,000 after buying an additional 95,683 shares during the period. Institutional investors and hedge funds own 92.47% of the company’s stock.

Shares of Forum Energy Technologies (NYSE FET) opened at $11.80 on Friday. The company has a current ratio of 3.74, a quick ratio of 1.76 and a debt-to-equity ratio of 0.34. Forum Energy Technologies has a fifty-two week low of $10.05 and a fifty-two week high of $23.00. The stock has a market cap of $1,248.52, a PE ratio of -18.15 and a beta of 1.70.

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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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Earnings History and Estimates for Forum Energy Technologies (NYSE:FET)

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