Forum Energy Technologies, Inc. (FET) Releases Q3 Earnings Guidance
Forum Energy Technologies, Inc. (NYSE:FET) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ~($0.10) for the period, compared to the Thomson Reuters consensus estimate of ($0.06). The company issued revenue guidance of ~$200 million, compared to the consensus revenue estimate of $221.22 million.
Several research firms have commented on FET. Barclays PLC downgraded shares of Forum Energy Technologies from an overweight rating to an equal weight rating and dropped their price target for the stock from $24.00 to $16.00 in a research note on Wednesday, July 12th. Cowen and Company restated a hold rating and issued a $15.00 price target on shares of Forum Energy Technologies in a research note on Tuesday, July 11th. Zacks Investment Research upgraded shares of Forum Energy Technologies from a sell rating to a hold rating in a research note on Tuesday, August 1st. BidaskClub upgraded shares of Forum Energy Technologies from a sell rating to a hold rating in a research note on Wednesday, July 5th. Finally, Guggenheim downgraded shares of Forum Energy Technologies from a buy rating to a neutral rating in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $18.73.
Shares of Forum Energy Technologies, Inc. (NYSE:FET) opened at 15.30 on Thursday. The stock’s market capitalization is $1.47 billion. Forum Energy Technologies, Inc. has a one year low of $10.05 and a one year high of $26.25. The stock has a 50 day moving average of $13.57 and a 200-day moving average of $15.46.
Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $194.16 million. Equities analysts predict that Forum Energy Technologies, Inc. will post ($0.29) earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This report was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/10/12/forum-energy-technologies-inc-fet-releases-q3-earnings-guidance.html.
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.
Receive News & Ratings for Forum Energy Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forum Energy Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.