Forum Energy Technologies Inc to Post FY2018 Earnings of $0.10 Per Share, Gabelli Forecasts (FET)

Forum Energy Technologies Inc (NYSE:FET) – Analysts at Gabelli reduced their FY2018 earnings estimates for shares of Forum Energy Technologies in a research note issued to investors on Monday. Gabelli analyst S. Wong now forecasts that the oil and gas company will earn $0.10 per share for the year, down from their prior estimate of $0.25. Gabelli also issued estimates for Forum Energy Technologies’ FY2019 earnings at $0.50 EPS and FY2021 earnings at $1.20 EPS.

Forum Energy Technologies (NYSE:FET) last issued its earnings results on Thursday, February 8th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The company had revenue of $247.70 million during 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% compared to the same quarter last year. During the same period last year, the business earned ($0.16) earnings per share.

FET has been the subject of several other research reports. Deutsche Bank decreased their price objective on Forum Energy Technologies from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Monday. Zacks Investment Research upgraded Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. decreased their price objective on Forum Energy Technologies from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday. Barclays set a $15.00 price objective on Forum Energy Technologies and gave the company a “hold” rating in a research note on Monday. Finally, Piper Jaffray Companies set a $13.00 price objective on Forum Energy Technologies and gave the company a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $16.50.

Shares of Forum Energy Technologies (NYSE FET) traded up $0.47 during trading on Wednesday, reaching $11.87. The company had a trading volume of 331,416 shares, compared to its average volume of 1,240,347. Forum Energy Technologies has a 12 month low of $10.05 and a 12 month high of $23.00. The stock has a market cap of $1,237.71, a PE ratio of -17.54 and a beta of 1.70. The company has a quick ratio of 1.76, a current ratio of 3.74 and a debt-to-equity ratio of 0.34.

Several large investors have recently added to or reduced their stakes in FET. QS Investors LLC increased its holdings 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 valued at $130,000 after purchasing an additional 5,600 shares during the period. Bronfman E.L. Rothschild L.P. increased its holdings 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 valued at $152,000 after purchasing an additional 4,429 shares during the period. MML Investors Services LLC acquired a new position in shares of Forum Energy Technologies in the fourth quarter valued at approximately $159,000. Amalgamated Bank acquired a new position in shares of Forum Energy Technologies in the fourth quarter valued at approximately $167,000. Finally, SG Americas Securities LLC acquired a new position in shares of Forum Energy Technologies in the third quarter valued at approximately $185,000. 95.12% of the stock is currently owned by institutional investors and hedge funds.

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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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