Forum Energy Technologies Inc (FET) Forecasted to Earn FY2018 Earnings of ($0.05) Per Share

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Forum Energy Technologies Inc (NYSE:FET) – Gabelli issued their FY2018 earnings estimates for Forum Energy Technologies in a research report issued on Wednesday, October 31st. Gabelli analyst S. Wong anticipates that the oil and gas company will post earnings of ($0.05) per share for the year. Gabelli also issued estimates for Forum Energy Technologies’ FY2019 earnings at $0.20 EPS.

Other research analysts have also issued research reports about the company. Johnson Rice lowered Forum Energy Technologies from a “buy” rating to an “accumulate” rating and set a $15.00 price target for the company. in a research report on Monday, September 17th. Zacks Investment Research upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Thursday, August 2nd. Morgan Stanley initiated coverage on Forum Energy Technologies in a research report on Tuesday, September 18th. They issued an “equal weight” rating and a $13.00 price target for the company. ValuEngine upgraded Forum Energy Technologies from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. Finally, Barclays set a $12.00 target price on Forum Energy Technologies and gave the company a “hold” rating in a research report on Wednesday, October 10th. One 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 stock. Forum Energy Technologies has a consensus rating of “Hold” and a consensus price target of $12.81.

FET opened at $8.69 on Monday. The stock has a market capitalization of $958.49 million, a P/E ratio of -22.87 and a beta of 1.95. Forum Energy Technologies has a 12 month low of $7.91 and a 12 month high of $17.95. The company has a quick ratio of 1.25, a current ratio of 3.47 and a debt-to-equity ratio of 0.33.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Monday, October 29th. The oil and gas company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The company had revenue of $267.00 million during the quarter, compared to analyst estimates of $283.19 million. Forum Energy Technologies had a negative return on equity of 0.74% and a net margin of 5.87%. The firm’s revenue was up 34.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.10) earnings per share.

Several large investors have recently made changes to their positions in FET. Massachusetts Financial Services Co. MA raised its stake in shares of Forum Energy Technologies by 20.4% during the third 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 acquiring an additional 529,804 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Forum Energy Technologies by 39.0% during the third 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 acquiring an additional 395,260 shares in the last quarter. FMR LLC raised its stake in shares of Forum Energy Technologies by 117.4% during the second quarter. FMR LLC now owns 684,300 shares of the oil and gas company’s stock valued at $8,451,000 after acquiring an additional 369,500 shares in the last quarter. Schroder Investment Management Group bought a new stake in shares of Forum Energy Technologies during the second quarter valued at approximately $4,391,000. Finally, Granite Investment Partners LLC raised its stake in shares of Forum Energy Technologies by 32.1% during the second 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 acquiring an additional 291,980 shares in the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

Forum Energy Technologies Company Profile

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

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