Zacks: Brokerages Anticipate Forum Energy Technologies Inc (FET) to Announce -$0.03 EPS
Wall Street analysts expect Forum Energy Technologies Inc (NYSE:FET) to announce earnings of ($0.03) per share for the current quarter, according to Zacks. Four analysts have issued estimates for Forum Energy Technologies’ earnings. The lowest EPS estimate is ($0.04) and the highest is ($0.03). Forum Energy Technologies posted earnings per share of ($0.16) during the same quarter last year, which indicates a positive year over year growth rate of 81.3%. The business is expected to issue its next earnings report after the market closes 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 expect that the business will report earnings of $0.15 per share, with EPS estimates ranging from ($0.05) to $0.29. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Forum Energy Technologies.
Forum Energy Technologies (NYSE:FET) last posted its earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.10). The company had revenue of $198.70 million for the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 43.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.19) earnings per share.
Shares of Forum Energy Technologies (NYSE:FET) traded down $0.05 during trading on Thursday, reaching $17.30. The company had a trading volume of 888,400 shares, compared to its average volume of 1,089,473. The company has a market capitalization of $1,870.00, a price-to-earnings ratio of -13.73 and a beta of 1.66. Forum Energy Technologies has a 1-year low of $10.05 and a 1-year high of $26.25. The company has a quick ratio of 1.76, a current ratio of 3.74 and a debt-to-equity ratio of 0.34.
Institutional investors and hedge funds have recently modified their holdings of the business. D.A. Davidson & CO. bought a new stake in shares of Forum Energy Technologies in the second quarter valued at $116,000. QS Investors LLC raised its stake in shares of Forum Energy Technologies by 205.7% in the second quarter. QS Investors LLC now owns 8,323 shares of the oil and gas company’s stock valued at $130,000 after buying an additional 5,600 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Forum Energy Technologies by 280.5% in the second quarter. BNP Paribas Arbitrage SA now owns 9,368 shares of the oil and gas company’s stock valued at $146,000 after buying an additional 6,906 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in shares of Forum Energy Technologies by 86.4% in the third 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 buying an additional 4,429 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Forum Energy Technologies in the third quarter valued at $185,000. Hedge funds and other institutional investors own 95.72% of the company’s stock.
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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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