Forum Energy Technologies, Inc. (NYSE:FET) – Equities research analysts at Jefferies Group lowered their Q2 2018 earnings per share estimates for Forum Energy Technologies in a research note issued to investors on Tuesday. Jefferies Group analyst B. Handler now anticipates that the oil and gas company will earn $0.01 per share for the quarter, down from their prior forecast of $0.02. Jefferies Group currently has a “Hold” rating and a $17.00 target price on the stock. Jefferies Group also issued estimates for Forum Energy Technologies’ FY2018 earnings at $0.15 EPS, FY2019 earnings at $0.75 EPS and FY2020 earnings at $1.40 EPS.

Several other research analysts have also recently weighed in on FET. Cowen and Company cut their price target on shares of Forum Energy Technologies from $15.00 to $11.00 and set a “market perform” rating on the stock in a report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub cut shares of Forum Energy Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Scotiabank set a $24.00 price target on shares of Forum Energy Technologies and gave the stock a “hold” rating in a report on Monday, July 31st. Finally, Citigroup Inc. boosted their price target on shares of Forum Energy Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.56.

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Forum Energy Technologies (NYSE:FET) last announced its earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.10). Forum Energy Technologies had a negative net margin of 16.85% and a negative return on equity of 3.94%. The firm had revenue of $198.70 million during the quarter, compared to analyst estimates of $200.96 million. During the same period in the prior year, the business earned ($0.19) EPS. The company’s revenue for the quarter was up 43.7% compared to the same quarter last year.

A number of large investors have recently added to or reduced their stakes in FET. BlackRock Inc. lifted its stake in Forum Energy Technologies by 28,940.8% in the first quarter. BlackRock Inc. now owns 4,365,706 shares of the oil and gas company’s stock worth $90,370,000 after acquiring an additional 4,350,673 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in Forum Energy Technologies by 96.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,541,025 shares of the oil and gas company’s stock worth $56,302,000 after acquiring an additional 1,738,375 shares during the period. Aberdeen Asset Management PLC UK lifted its stake in Forum Energy Technologies by 29.8% in the second quarter. Aberdeen Asset Management PLC UK now owns 3,180,777 shares of the oil and gas company’s stock worth $49,620,000 after acquiring an additional 731,128 shares during the period. Dimensional Fund Advisors LP lifted its stake in Forum Energy Technologies by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 5,433,239 shares of the oil and gas company’s stock worth $84,758,000 after acquiring an additional 455,066 shares during the period. Finally, Voya Investment Management LLC lifted its stake in Forum Energy Technologies by 54.6% in the second quarter. Voya Investment Management LLC now owns 1,081,632 shares of the oil and gas company’s stock worth $16,873,000 after acquiring an additional 382,159 shares during the period. 97.19% of the stock is owned by institutional investors.

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.

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

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