Wall Street brokerages predict that Forum Energy Technologies Inc (NYSE:FET) will post sales of $248.69 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Forum Energy Technologies’ earnings, with the highest sales estimate coming in at $252.50 million and the lowest estimate coming in at $243.10 million. Forum Energy Technologies posted sales of $147.10 million during the same quarter last year, which would indicate a positive year over year growth rate of 69.1%. The business is scheduled to announce its next quarterly earnings report after the market closes on Thursday, February 8th.

According to Zacks, analysts expect that Forum Energy Technologies will report full-year sales of $248.69 million for the current year, with estimates ranging from $807.80 million to $825.60 million. For the next year, analysts expect that the firm will report sales of $1.07 billion per share, with estimates ranging from $943.00 million to $1.12 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Forum Energy Technologies.

Forum Energy Technologies (NYSE:FET) last issued its earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.10). The company had revenue of $198.70 million during 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 firm’s quarterly revenue was up 43.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.19) EPS.

A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday. Cowen set a $13.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a research note on Thursday, January 11th. Jefferies Group set a $17.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a research note on Thursday, January 4th. Citigroup raised their target price on Forum Energy Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, October 5th. Finally, Deutsche Bank assumed coverage on Forum Energy Technologies in a research note on Tuesday, October 10th. They issued a “hold” rating and a $17.00 target price for the company. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $17.93.

Forum Energy Technologies (FET) opened at $17.15 on Friday. 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 52 week low of $10.05 and a 52 week high of $26.25.

A number of institutional investors and hedge funds have recently made changes to their positions in FET. Vaughan Nelson Investment Management L.P. grew its position in Forum Energy Technologies by 96.4% during the 3rd 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 purchasing an additional 1,738,375 shares during the period. Citadel Advisors LLC acquired a new stake in Forum Energy Technologies during the 3rd quarter worth about $19,272,000. Boston Partners acquired a new stake in Forum Energy Technologies during the 3rd quarter worth about $14,297,000. Dimensional Fund Advisors LP grew its position in Forum Energy Technologies by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,433,239 shares of the oil and gas company’s stock worth $84,758,000 after purchasing an additional 455,066 shares during the period. Finally, Granite Investment Partners LLC grew its position in Forum Energy Technologies by 72.7% during the 3rd quarter. Granite Investment Partners LLC now owns 980,014 shares of the oil and gas company’s stock worth $15,582,000 after purchasing an additional 412,419 shares during the period. 95.72% of the stock is currently owned by institutional investors.

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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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