FY2020 EPS Estimates for Forum Energy Technologies Inc (FET) Lowered by Analyst

Forum Energy Technologies Inc (NYSE:FET) – Analysts at Gabelli cut their FY2020 earnings estimates for shares of Forum Energy Technologies in a research report issued on Monday. Gabelli analyst S. Wong now anticipates that the oil and gas company will post earnings per share of $0.95 for the year, down from their prior estimate of $1.10. Gabelli also issued estimates for Forum Energy Technologies’ FY2022 earnings at $1.45 EPS.

Several other research firms have also weighed in on FET. Zacks Investment Research raised Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Monday, October 16th. Barclays reissued a “hold” rating and issued a $17.00 target price on shares of Forum Energy Technologies in a report on Sunday, November 5th. JPMorgan Chase & Co. lowered their target price on Forum Energy Technologies from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday. Cowen reissued a “market perform” rating and issued a $10.00 target price (down previously from $13.00) on shares of Forum Energy Technologies in a report on Monday. Finally, Jefferies Group raised Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. Forum Energy Technologies has an average rating of “Hold” and a consensus price target of $16.50.

Forum Energy Technologies (NYSE FET) traded down $0.03 during trading on Tuesday, reaching $11.42. The company’s stock had a trading volume of 2,080,861 shares, compared to its average volume of 1,241,912. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.74 and a quick ratio of 1.76. The firm has a market capitalization of $1,270.14, a price-to-earnings ratio of -17.50 and a beta of 1.70. Forum Energy Technologies has a 12 month low of $10.05 and a 12 month high of $23.00.

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

Several large investors have recently modified their holdings of FET. Teachers Advisors LLC lifted its position in shares of Forum Energy Technologies by 59.0% in the second quarter. Teachers Advisors LLC now owns 168,736 shares of the oil and gas company’s stock valued at $2,632,000 after acquiring an additional 62,596 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Forum Energy Technologies by 15.8% in the second quarter. TIAA CREF Investment Management LLC now owns 185,211 shares of the oil and gas company’s stock valued at $2,889,000 after acquiring an additional 25,267 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Forum Energy Technologies by 38.5% in the second quarter. Ameriprise Financial Inc. now owns 170,365 shares of the oil and gas company’s stock valued at $2,658,000 after acquiring an additional 47,357 shares in the last quarter. Nationwide Fund Advisors lifted its position in shares of Forum Energy Technologies by 1.7% in the second quarter. Nationwide Fund Advisors now owns 66,648 shares of the oil and gas company’s stock valued at $1,040,000 after acquiring an additional 1,083 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Forum Energy Technologies by 10.7% in the second quarter. New York State Common Retirement Fund now owns 115,546 shares of the oil and gas company’s stock valued at $1,803,000 after acquiring an additional 11,199 shares in the last quarter. Institutional investors and hedge funds own 95.12% of the company’s stock.

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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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