Piper Jaffray set a $13.00 price target on Forum Energy Technologies (NYSE:FET) in a research note issued to investors on Sunday. The firm currently has a hold rating on the oil and gas company’s stock. Piper Jaffray also issued estimates for Forum Energy Technologies’ Q1 2018 earnings at ($0.06) EPS, Q2 2018 earnings at ($0.02) EPS, Q3 2018 earnings at $0.01 EPS, Q4 2018 earnings at $0.03 EPS, FY2018 earnings at ($0.03) EPS, Q1 2019 earnings at $0.06 EPS, Q2 2019 earnings at $0.10 EPS, Q3 2019 earnings at $0.15 EPS, Q4 2019 earnings at $0.17 EPS, FY2019 earnings at $0.48 EPS, Q1 2020 earnings at $0.17 EPS and FY2020 earnings at $0.76 EPS.
FET has been the subject of several other reports. Jefferies Group set a $17.00 price objective on Forum Energy Technologies and gave the stock a hold rating in a research report on Thursday, January 4th. Zacks Investment Research upgraded Forum Energy Technologies from a sell rating to a hold rating in a research report on Tuesday, March 20th. Cowen reiterated a market perform rating and set a $10.00 price objective (down from $13.00) on shares of Forum Energy Technologies in a research report on Monday, February 12th. TheStreet upgraded Forum Energy Technologies from a d+ rating to a c- rating in a research report on Friday, February 9th. Finally, Capital One Financial upgraded Forum Energy Technologies from an equal weight rating to an overweight rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $15.79.
Shares of FET stock opened at $12.20 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.65 and a quick ratio of 1.61. Forum Energy Technologies has a 52 week low of $10.05 and a 52 week high of $21.63. The company has a market capitalization of $1,193.94, a price-to-earnings ratio of -32.11 and a beta of 1.90.
Forum Energy Technologies (NYSE:FET) last issued its earnings results on Thursday, February 8th. The oil and gas company reported ($0.04) 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 2.98%. The company had revenue of $247.70 million during the quarter, compared to analyst estimates of $249.85 million. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. The business’s revenue was up 68.4% on a year-over-year basis. analysts predict that Forum Energy Technologies will post 0.01 earnings per share for the current fiscal year.
In other news, CEO Prady Iyyanki bought 90,000 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was purchased at an average cost of $10.63 per share, for a total transaction of $956,700.00. Following the completion of the transaction, the chief executive officer now directly owns 443,417 shares of the company’s stock, valued at approximately $4,713,522.71. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 30.00% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MML Investors Services LLC acquired a new stake in Forum Energy Technologies in the fourth quarter worth approximately $159,000. Two Sigma Investments LP acquired a new stake in Forum Energy Technologies in the fourth quarter worth approximately $163,000. Amalgamated Bank acquired a new stake in Forum Energy Technologies in the fourth quarter worth approximately $167,000. SG Americas Securities LLC acquired a new stake in Forum Energy Technologies in the third quarter worth approximately $185,000. Finally, ETRADE Capital Management LLC acquired a new stake in Forum Energy Technologies in the fourth quarter worth approximately $213,000. Hedge funds and other institutional investors own 94.25% of the company’s stock.
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About Forum Energy Technologies
Forum Energy Technologies, Inc designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates in three segments: Drilling & Subsea, Completions, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the drilling, energy subsea construction and service markets, and other markets, such as alternative energy, defense, and communications.
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