Zacks: Brokerages Expect Forum Energy Technologies, Inc. (FET) Will Post Earnings of -$0.06 Per Share
Analysts expect that Forum Energy Technologies, Inc. (NYSE:FET) will report ($0.06) earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Forum Energy Technologies’ earnings. The highest EPS estimate is ($0.04) and the lowest is ($0.07). Forum Energy Technologies posted earnings per share of ($0.19) during the same quarter last year, which indicates a positive year over year growth rate of 68.4%. The company is scheduled to issue its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Forum Energy Technologies will report full-year earnings of ($0.32) per share for the current fiscal year, with EPS estimates ranging from ($0.36) to ($0.25). For the next financial year, analysts anticipate that the business will report earnings of $0.12 per share, with EPS estimates ranging from ($0.17) to $0.35. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Forum Energy Technologies.
Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.01. Forum Energy Technologies had a negative net margin of 18.89% and a negative return on equity of 4.55%. The business had revenue of $201.10 million for the quarter, compared to analyst estimates of $194.16 million.
A number of equities analysts have recently issued reports on FET shares. BidaskClub upgraded shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Jefferies Group LLC set a $22.00 target price on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research report on Thursday, April 27th. Cowen and Company reduced their target price on shares of Forum Energy Technologies from $15.00 to $11.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 1st. Societe Generale started coverage on shares of Forum Energy Technologies in a research report on Wednesday, June 7th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Barclays PLC lowered shares of Forum Energy Technologies from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $24.00 to $16.00 in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $20.50.
Large investors have recently bought and sold shares of the company. Guggenheim Capital LLC increased its stake in Forum Energy Technologies by 136.4% in the fourth quarter. Guggenheim Capital LLC now owns 70,812 shares of the oil and gas company’s stock worth $1,558,000 after buying an additional 40,853 shares during the period. AQR Capital Management LLC increased its stake in Forum Energy Technologies by 167.4% in the fourth quarter. AQR Capital Management LLC now owns 40,333 shares of the oil and gas company’s stock worth $887,000 after buying an additional 25,248 shares during the period. Norges Bank acquired a new stake in Forum Energy Technologies during the fourth quarter worth $19,409,000. Teachers Advisors LLC increased its stake in Forum Energy Technologies by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 98,747 shares of the oil and gas company’s stock worth $2,172,000 after buying an additional 1,800 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in Forum Energy Technologies during the first quarter worth $306,000.
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Forum Energy Technologies (NYSE:FET) opened at 13.45 on Monday. The firm’s market cap is $1.29 billion. The company’s 50 day moving average is $15.33 and its 200-day moving average is $18.39. Forum Energy Technologies has a 1-year low of $12.75 and a 1-year high of $26.25.
About Forum Energy Technologies
Forum Energy Technologies, Inc is an oilfield products company. The Company designs, manufactures and distributes products, and engages in aftermarket services, parts supply and related services. The Company operates through three segments: Drilling & Subsea, Completions, and Production & Infrastructure.
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