Zacks: Brokerages Anticipate Forum Energy Technologies Inc (FET) Will Post Earnings of -$0.03 Per Share

Equities analysts forecast that Forum Energy Technologies Inc (NYSE:FET) will post earnings of ($0.03) per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Forum Energy Technologies’ earnings. The highest EPS estimate is ($0.02) and the lowest is ($0.04). Forum Energy Technologies posted earnings of ($0.16) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 81.3%. The company is scheduled to report its next earnings report on Thursday, February 8th.

On average, analysts expect that Forum Energy Technologies will report full year earnings of ($0.36) per share for the current year, with EPS estimates ranging from ($0.37) to ($0.35). For the next fiscal year, analysts forecast that the business will post earnings of $0.14 per share, with EPS estimates ranging from ($0.05) to $0.29. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Forum Energy Technologies.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The company had revenue of $198.70 million for the quarter, compared to analysts’ expectations of $200.96 million. Forum Energy Technologies had a negative net margin of 16.85% and a negative return on equity of 3.97%. Forum Energy Technologies’s revenue was up 43.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) EPS.

Several equities analysts have issued reports on the stock. Citigroup boosted their price objective on shares of Forum Energy Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, October 5th. Zacks Investment Research raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Monday, October 16th. Scotiabank set a $24.00 price objective on shares of Forum Energy Technologies and gave the company a “hold” rating in a research note on Thursday, October 12th. Jefferies Group set a $17.00 target price on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research report on Thursday, October 5th. Finally, Barclays restated a “hold” rating and set a $17.00 target price on shares of Forum Energy Technologies in a research report on Sunday, November 5th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $17.79.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC boosted its position in shares of Forum Energy Technologies by 15.8% during the 3rd quarter. Sterling Capital Management LLC now owns 165,721 shares of the oil and gas company’s stock worth $2,635,000 after purchasing an additional 22,610 shares in the last quarter. Royce & Associates LP boosted its position in shares of Forum Energy Technologies by 19.6% in the 3rd quarter. Royce & Associates LP now owns 250,319 shares of the oil and gas company’s stock worth $3,980,000 after buying an additional 41,000 shares in the last quarter. Cramer Rosenthal Mcglynn LLC boosted its position in shares of Forum Energy Technologies by 1.4% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 941,660 shares of the oil and gas company’s stock worth $14,972,000 after buying an additional 13,110 shares in the last quarter. Moody Aldrich Partners LLC boosted its position in shares of Forum Energy Technologies by 13.2% in the 3rd quarter. Moody Aldrich Partners LLC now owns 34,703 shares of the oil and gas company’s stock worth $552,000 after buying an additional 4,038 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Forum Energy Technologies by 5.0% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 499,449 shares of the oil and gas company’s stock worth $7,942,000 after buying an additional 23,945 shares in the last quarter. Institutional investors own 98.69% of the company’s stock.

Forum Energy Technologies (FET) opened at $13.20 on Friday. The company has a quick ratio of 1.76, a current ratio of 3.74 and a debt-to-equity ratio of 0.34. Forum Energy Technologies has a 12 month low of $10.05 and a 12 month high of $26.25.

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

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