Forum Energy Technologies Receives Consensus Rating of “Buy” from Brokerages (NYSE:FET)
Shares of Forum Energy Technologies (NYSE:FET) have been given an average rating of “Buy” by the eighteen analysts that are covering the stock, American Banking and Market News reports. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $34.73.
A number of analysts have recently weighed in on FET shares. Analysts at Cowen and Company raised their price target on shares of Forum Energy Technologies from $36.00 to $39.00 in a research note on Tuesday, July 29th. They now have an “outperform” rating on the stock. Separately, analysts at Johnson Rice raised their price target on shares of Forum Energy Technologies from $38.00 to $40.00 in a research note on Monday, July 28th. Finally, analysts at Tudor Pickering upgraded shares of Forum Energy Technologies from an “accumulate” rating to a “buy” rating in a research note on Wednesday, July 23rd.
Forum Energy Technologies (NYSE:FET) opened at 32.66 on Wednesday. Forum Energy Technologies has a 52 week low of $24.32 and a 52 week high of $37.03. The stock’s 50-day moving average is $35.46 and its 200-day moving average is $30.92. The company has a market cap of $3.024 billion and a price-to-earnings ratio of 21.90.
Forum Energy Technologies (NYSE:FET) last released its earnings data on Thursday, July 24th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $428.30 million for the quarter, compared to the consensus estimate of $415.12 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 16.4% on a year-over-year basis. On average, analysts predict that Forum Energy Technologies will post $1.83 earnings per share for the current fiscal year.
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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