Forum Energy Technologies Inc Forecasted to Post Q3 2018 Earnings of $0.03 Per Share (FET)

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.

Other equities research analysts have also recently issued reports about the stock. Deutsche Bank decreased their price target on shares of Forum Energy Technologies from $17.00 to $16.00 and set a “hold” rating for the company in a report on Monday. Piper Jaffray Companies set a $13.00 target price on shares of Forum Energy Technologies and gave the company a “hold” rating in a research note on Monday. Jefferies Group upgraded shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Tuesday. Zacks Investment Research upgraded shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, January 17th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Forum Energy Technologies from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. Forum Energy Technologies presently has an average rating of “Hold” and an average price target of $16.50.

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.

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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.

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

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