Forum Energy Technologies Receives Average Rating of “Buy” from Brokerages (NYSE:FET)
Shares of Forum Energy Technologies (NYSE:FET) have been given a consensus recommendation of “Buy” by the eighteen brokerages that are presently covering the stock, Analyst Ratings Network.com reports. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $33.88.
Shares of Forum Energy Technologies (NYSE:FET) traded up 2.66% during mid-day trading on Friday, hitting $36.29. 352,076 shares of the company’s stock traded hands. Forum Energy Technologies has a 52 week low of $24.32 and a 52 week high of $35.36. The stock has a 50-day moving average of $32.92 and a 200-day moving average of $29.15. The company has a market cap of $3.343 billion and a P/E ratio of 25.07.
Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. The company had revenue of $403.90 million for the quarter, compared to the consensus estimate of $403.17 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts expect that Forum Energy Technologies will post $1.82 EPS for the current fiscal year.
In other Forum Energy Technologies news, VP Michael Dewayne Danford sold 12,000 shares of Forum Energy Technologies stock in a transaction dated Thursday, June 19th. The stock was sold at an average price of $34.73, for a total value of $416,760.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on FET. Analysts at Jefferies Group raised their price target on shares of Forum Energy Technologies from $32.00 to $35.00 in a research note on Friday. Separately, analysts at Howard Weil raised their price target on shares of Forum Energy Technologies to $37.00 in a research note on Monday, April 28th.
Forum Energy Technologies, Inc is an oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry.
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