Wall Street brokerages predict that Forum Energy Technologies, Inc. (NYSE:FET) will post sales of $219.07 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Forum Energy Technologies’ earnings, with the highest sales estimate coming in at $222.50 million and the lowest estimate coming in at $212.30 million. Forum Energy Technologies posted sales of $138.30 million during the same quarter last year, which would indicate a positive year over year growth rate of 58.4%. The business is scheduled to announce its next quarterly earnings report on Thursday, October 26th.

According to Zacks, analysts expect that Forum Energy Technologies will report full-year sales of $219.07 million for the current year, with estimates ranging from $803.93 million to $865.00 million. For the next year, analysts expect that the firm will report sales of $1.01 billion per share, with estimates ranging from $948.10 million to $1.14 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Forum Energy Technologies.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. Forum Energy Technologies had a negative return on equity of 4.55% and a negative net margin of 18.89%. The business had revenue of $201.10 million during the quarter, compared to the consensus estimate of $194.16 million.

A number of analysts recently issued reports on FET shares. TheStreet cut Forum Energy Technologies from a “c-” rating to a “d+” rating in a report on Thursday, May 25th. Deutsche Bank AG reissued a “buy” rating and set a $25.00 price objective (down previously from $26.00) on shares of Forum Energy Technologies in a report on Tuesday, May 30th. Societe Generale started coverage on Forum Energy Technologies in a report on Wednesday, June 7th. They set a “buy” rating and a $20.00 price objective on the stock. Jefferies Group LLC set a $19.00 price objective on Forum Energy Technologies and gave the stock a “hold” rating in a report on Tuesday, June 6th. Finally, BidaskClub raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Forum Energy Technologies has an average rating of “Hold” and an average target price of $19.81.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Eagle Asset Management Inc. grew its position in Forum Energy Technologies by 4.6% during the 2nd quarter. Eagle Asset Management Inc. now owns 841,395 shares of the oil and gas company’s stock worth $13,125,000 after acquiring an additional 37,103 shares during the last quarter. Moody Aldrich Partners LLC grew its position in Forum Energy Technologies by 31.6% during the 2nd quarter. Moody Aldrich Partners LLC now owns 30,665 shares of the oil and gas company’s stock worth $478,000 after acquiring an additional 7,370 shares during the last quarter. Vanguard Group Inc. grew its position in Forum Energy Technologies by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 5,469,195 shares of the oil and gas company’s stock worth $113,213,000 after acquiring an additional 205,452 shares during the last quarter. Champlain Investment Partners LLC grew its position in Forum Energy Technologies by 2.2% during the 1st quarter. Champlain Investment Partners LLC now owns 2,361,150 shares of the oil and gas company’s stock worth $48,876,000 after acquiring an additional 50,355 shares during the last quarter. Finally, Cutler Group LP grew its position in Forum Energy Technologies by 22.8% during the 2nd quarter. Cutler Group LP now owns 7,000 shares of the oil and gas company’s stock worth $109,000 after acquiring an additional 1,300 shares during the last quarter.

Shares of Forum Energy Technologies (NYSE FET) remained flat at $13.95 during midday trading on Friday. 344,410 shares of the company’s stock were exchanged. Forum Energy Technologies has a 12-month low of $10.05 and a 12-month high of $26.25. The firm’s market cap is $1.34 billion. The company’s 50 day moving average is $12.07 and its 200-day moving average is $16.20.

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Forum Energy Technologies Company Profile

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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Earnings History and Estimates for Forum Energy Technologies (NYSE:FET)

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