Forum Energy Technologies Rating Reiterated by Deutsche Bank (FET)
Forum Energy Technologies (NYSE:FET)‘s stock had its “buy” rating reiterated by research analysts at Deutsche Bank in a report released on Monday. They currently have a $38.00 price objective on the stock, down from their previous price objective of $39.00. Deutsche Bank’s price objective would indicate a potential upside of 16.24% from the company’s current price.
Several other analysts have also recently commented on the stock. 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. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $35.67.
Forum Energy Technologies (NYSE:FET) traded up 0.24% on Monday, hitting $32.77. 304,984 shares of the company’s stock traded hands. Forum Energy Technologies has a one year low of $24.32 and a one year high of $37.03. The stock’s 50-day moving average is $35.18 and its 200-day moving average is $31.10. The company has a market cap of $3.036 billion and a P/E ratio of 21.51.
Forum Energy Technologies (NYSE:FET) last released its earnings data on Thursday, July 24th. The company reported $0.44 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.34 earnings per share. Forum Energy Technologies’s revenue was up 16.4% compared to the same quarter last year. 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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