Equities Analysts Set Expectations for Forum Energy Technologies Inc’s FY2019 Earnings (FET)

Forum Energy Technologies Inc (NYSE:FET) – Equities researchers at Capital One Financial issued their FY2019 EPS estimates for Forum Energy Technologies in a research report issued on Friday. Capital One Financial analyst J. Gibney expects that the oil and gas company will post earnings of $0.52 per share for the year. Capital One Financial currently has a “Overweight” rating on the stock.

Other analysts have also issued reports about the company. Zacks Investment Research raised Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Monday, October 16th. Barclays reissued a “hold” rating and issued a $17.00 price objective on shares of Forum Energy Technologies in a report on Sunday, November 5th. Cowen set a $13.00 price objective on Forum Energy Technologies and gave the company a “hold” rating in a report on Thursday, January 11th. Jefferies Group set a $17.00 price objective on Forum Energy Technologies and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, JPMorgan Chase & Co. dropped their price objective on Forum Energy Technologies from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.07.

Shares of Forum Energy Technologies (FET) opened at $11.75 on Monday. 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 1-year low of $10.05 and a 1-year high of $26.25. The company has a market capitalization of $1,270.00, a P/E ratio of -17.80 and a beta of 1.70.

Forum Energy Technologies (NYSE:FET) last posted its earnings results on Thursday, February 8th. The oil and gas company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The company had revenue of $247.70 million for the quarter, compared to analyst estimates of $249.85 million. Forum Energy Technologies had a negative return on equity of 3.11% and a negative net margin of 6.99%. The firm’s revenue was up 68.4% on a year-over-year basis. During the same period last year, the business earned ($0.16) earnings per share.

Large investors have recently modified their holdings of the company. QS Investors LLC boosted 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 worth $130,000 after acquiring an additional 5,600 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted 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 worth $152,000 after acquiring an additional 4,429 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Forum Energy Technologies in the third quarter worth approximately $185,000. MHI Funds LLC acquired a new stake in shares of Forum Energy Technologies in the fourth quarter worth approximately $218,000. Finally, Suntrust Banks Inc. boosted its stake in shares of Forum Energy Technologies by 0.5% in the second quarter. Suntrust Banks Inc. now owns 14,776 shares of the oil and gas company’s stock worth $229,000 after acquiring an additional 68 shares during the last quarter. 95.12% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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

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