Capital One Financial Brokers Decrease Earnings Estimates for Forum Energy Technologies Inc (FET)

Forum Energy Technologies Inc (NYSE:FET) – Investment analysts at Capital One Financial cut their FY2019 earnings per share (EPS) estimates for shares of Forum Energy Technologies in a research note issued on Monday. Capital One Financial analyst J. Gibney now forecasts that the oil and gas company will post earnings per share of $0.51 for the year, down from their previous forecast of $0.52. Capital One Financial has a “Overweight” rating on the stock.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The business had revenue of $247.70 million during the quarter, compared to analysts’ expectations 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 company’s revenue was up 68.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.16) earnings per share.

Several other research analysts have also weighed in on FET. TheStreet upgraded Forum Energy Technologies from a “d+” rating to a “c-” rating in a research report on Friday, February 9th. Cowen restated a “market perform” rating and set a $10.00 price target (down from $13.00) on shares of Forum Energy Technologies in a research report on Monday. JPMorgan Chase & Co. lowered their price target on Forum Energy Technologies from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday. Barclays set a $15.00 price target on Forum Energy Technologies and gave the stock a “hold” rating in a research report on Monday. Finally, Deutsche Bank lowered their price target on Forum Energy Technologies from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $16.50.

Shares of Forum Energy Technologies (NYSE FET) traded up $1.00 during trading on Wednesday, reaching $12.40. The company had a trading volume of 1,173,501 shares, compared to its average volume of 1,266,478. The stock has a market capitalization of $1,237.71, a price-to-earnings ratio of -19.19 and a beta of 1.70. Forum Energy Technologies has a 52 week low of $10.05 and a 52 week high of $23.00. The company has a quick ratio of 1.76, a current ratio of 3.74 and a debt-to-equity ratio of 0.34.

Large investors have recently added to or reduced their stakes in the stock. QS Investors LLC boosted its holdings in 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 valued at $130,000 after purchasing an additional 5,600 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in 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 valued at $152,000 after purchasing an additional 4,429 shares during the period. MML Investors Services LLC purchased a new position in Forum Energy Technologies in the fourth quarter valued at $159,000. Amalgamated Bank purchased a new position in Forum Energy Technologies in the fourth quarter valued at $167,000. Finally, SG Americas Securities LLC purchased a new position in Forum Energy Technologies in the third quarter valued at $185,000. Hedge funds and other institutional investors own 95.12% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was first published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2018/02/14/capital-one-financial-brokers-decrease-earnings-estimates-for-forum-energy-technologies-inc-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.

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

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.

Leave a Reply