Forum Energy Technologies Inc (NYSE:FET) – Investment analysts at Jefferies Group decreased their FY2019 earnings per share estimates for shares of Forum Energy Technologies in a report issued on Thursday. Jefferies Group analyst B. Handler now forecasts that the oil and gas company will post earnings per share of $0.70 for the year, down from their previous estimate of $0.75. Jefferies Group has a “Hold” rating and a $17.00 price objective on the stock. Jefferies Group also issued estimates for Forum Energy Technologies’ FY2020 earnings at $1.35 EPS.
Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10). The business had revenue of $198.70 million during the quarter, compared to analysts’ expectations of $200.96 million. Forum Energy Technologies had a negative return on equity of 3.97% and a negative net margin of 16.85%. The firm’s revenue for the quarter was up 43.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.19) EPS.
Forum Energy Technologies (NYSE FET) traded up $0.40 during midday trading on Friday, reaching $16.60. The company’s stock had a trading volume of 1,583,300 shares, compared to its average volume of 1,442,633. The stock has a market cap of $1,751.17, a PE ratio of -13.17 and a beta of 1.66. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.74 and a quick ratio of 1.76. Forum Energy Technologies has a fifty-two week low of $10.05 and a fifty-two week high of $26.25.
A number of hedge funds and other institutional investors have recently modified their holdings of FET. D.A. Davidson & CO. purchased a new position in shares of Forum Energy Technologies in the 2nd quarter valued at $116,000. QS Investors LLC increased its holdings in shares of Forum Energy Technologies by 205.7% in the 2nd quarter. QS Investors LLC now owns 8,323 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 5,600 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Forum Energy Technologies by 280.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,368 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 6,906 shares during the period. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Forum Energy Technologies by 86.4% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 9,556 shares of the oil and gas company’s stock valued at $152,000 after acquiring an additional 4,429 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Forum Energy Technologies in the 3rd quarter valued at $185,000. 95.72% of the stock is owned by institutional investors and hedge funds.
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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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