Forum Energy Technologies Inc (NYSE:FET) – Equities research analysts at B. Riley issued their Q3 2018 earnings estimates for Forum Energy Technologies in a research note issued on Monday. B. Riley analyst T. Curran forecasts that the oil and gas company will post earnings per share of $0.03 for the quarter. B. Riley currently has a “Neutral” rating and a $13.00 price objective on the stock. B. Riley also issued estimates for Forum Energy Technologies’ Q4 2018 earnings at $0.06 EPS and FY2019 earnings at $0.45 EPS.
Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Thursday, February 8th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). Forum Energy Technologies had a negative net margin of 6.99% and a negative return on equity of 3.11%. The firm had revenue of $247.70 million for the quarter, compared to the consensus estimate of $249.85 million. During the same quarter last year, the company earned ($0.16) earnings per share. The firm’s revenue was up 68.4% on a year-over-year basis.
Shares of Forum Energy Technologies (NYSE:FET) opened at $11.45 on Tuesday. The company has a current ratio of 3.74, a quick ratio of 1.76 and a debt-to-equity ratio of 0.34. Forum Energy Technologies has a fifty-two week low of $10.05 and a fifty-two week high of $23.00. The stock has a market cap of $1,270.14, a PE ratio of -17.62 and a beta of 1.70.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Standard Life Aberdeen plc increased its holdings in shares of Forum Energy Technologies by 15.9% during the fourth quarter. Standard Life Aberdeen plc now owns 4,754,589 shares of the oil and gas company’s stock worth $74,053,000 after buying an additional 652,914 shares in the last quarter. Brown Advisory Inc. acquired a new stake in shares of Forum Energy Technologies during the fourth quarter worth approximately $1,190,000. American International Group Inc. increased its holdings in shares of Forum Energy Technologies by 17.4% during the fourth quarter. American International Group Inc. now owns 54,313 shares of the oil and gas company’s stock worth $845,000 after buying an additional 8,040 shares in the last quarter. TCW Group Inc. increased its holdings in shares of Forum Energy Technologies by 30.4% during the fourth quarter. TCW Group Inc. now owns 77,342 shares of the oil and gas company’s stock worth $1,203,000 after buying an additional 18,052 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Forum Energy Technologies in the fourth quarter valued at approximately $641,000. 95.12% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: This piece of content was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/13/forum-energy-technologies-inc-forecasted-to-post-q3-2018-earnings-of-0-03-per-share-fet.html.
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.
Receive News & Ratings for Forum Energy Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forum Energy Technologies and related companies with MarketBeat.com's FREE daily email newsletter.