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Forbes Energy Services (NYSE:FES) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued on Monday, Analyst Ratings Net reports. The firm currently has a $3.30 target price on the stock. Zacks‘ target price would suggest a potential upside of 2.48% from the stock’s previous close.

Shares of Forbes Energy Services (NYSE:FES) traded down 2.13% during mid-day trading on Monday, hitting $3.22. 85,169 shares of the company’s stock traded hands. Forbes Energy Services has a 52 week low of $2.16 and a 52 week high of $5.31. The stock’s 50-day moving average is $3.45 and its 200-day moving average is $4.25. The company’s market cap is $69.1 million.

Forbes Energy Services (NYSE:FES) last issued its quarterly earnings data on Friday, November 8th. The company reported ($0.27) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.03) by $0.24. During the same quarter in the prior year, the company posted ($0.12) earnings per share. Analysts expect that Forbes Energy Services will post $-0.67 EPS for the current fiscal year.

Forbes Energy Services Ltd. (NYSE:FES) is an independent oilfield services contractor that provides a range of well site services to oil and natural gas drilling and producing companies to help develop and enhance the production of oil and natural gas.

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