Analysts Set Expectations for Forum Energy Technologies Inc’s Q1 2019 Earnings (FET)

Forum Energy Technologies Inc (NYSE:FET) – Research analysts at Capital One Financial reduced their Q1 2019 EPS estimates for shares of Forum Energy Technologies in a report issued on Wednesday, October 31st. Capital One Financial analyst L. Lemoine now forecasts that the oil and gas company will post earnings of $0.03 per share for the quarter, down from their previous estimate of $0.05. Capital One Financial also issued estimates for Forum Energy Technologies’ Q3 2019 earnings at $0.11 EPS, FY2019 earnings at $0.33 EPS and FY2020 earnings at $0.63 EPS.

FET has been the subject of several other reports. Citigroup decreased their price objective on shares of Forum Energy Technologies from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday. Credit Suisse Group decreased their price objective on shares of Forum Energy Technologies from $12.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday. Piper Jaffray Companies upgraded shares of Forum Energy Technologies from a “neutral” rating to an “overweight” rating and set a $13.00 price objective for the company in a research note on Tuesday, October 2nd. ValuEngine lowered shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Finally, Zacks Investment Research raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $12.81.

Shares of NYSE FET opened at $8.78 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.22 and a current ratio of 3.34. Forum Energy Technologies has a 12 month low of $7.91 and a 12 month high of $17.95.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Monday, October 29th. The oil and gas company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Forum Energy Technologies had a net margin of 5.87% and a negative return on equity of 0.74%. The business had revenue of $267.00 million during the quarter, compared to analysts’ expectations of $283.19 million. During the same period in the previous year, the business posted ($0.10) EPS. The business’s quarterly revenue was up 34.4% compared to the same quarter last year.

Several large investors have recently bought and sold shares of FET. Massachusetts Financial Services Co. MA increased its holdings in shares of Forum Energy Technologies by 20.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,129,376 shares of the oil and gas company’s stock valued at $32,389,000 after purchasing an additional 529,804 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Forum Energy Technologies by 39.0% during the 3rd quarter. Wells Fargo & Company MN now owns 1,407,903 shares of the oil and gas company’s stock valued at $14,572,000 after purchasing an additional 395,260 shares in the last quarter. FMR LLC increased its holdings in shares of Forum Energy Technologies by 117.4% during the 2nd quarter. FMR LLC now owns 684,300 shares of the oil and gas company’s stock valued at $8,451,000 after purchasing an additional 369,500 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Forum Energy Technologies during the 2nd quarter valued at approximately $4,391,000. Finally, Granite Investment Partners LLC increased its holdings in shares of Forum Energy Technologies by 32.1% during the 2nd quarter. Granite Investment Partners LLC now owns 1,201,005 shares of the oil and gas company’s stock valued at $14,832,000 after purchasing an additional 291,980 shares in the last quarter. 93.38% of the stock is owned by hedge funds and other institutional investors.

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.

See Also: What does the Dow Jones Industrial Average (DJIA) measure?

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

Receive News & Ratings for Forum Energy Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forum Energy Technologies and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply