Q3 2018 Earnings Estimate for Forum Energy Technologies Inc (FET) Issued By Jefferies Group

Forum Energy Technologies Inc (NYSE:FET) – Investment analysts at Jefferies Group reduced their Q3 2018 earnings per share (EPS) estimates for shares of Forum Energy Technologies in a note issued to investors on Tuesday. Jefferies Group analyst B. Handler now expects that the oil and gas company will post earnings of $0.04 per share for the quarter, down from their previous forecast of $0.05. Jefferies Group has a “Buy” rating and a $15.00 price target on the stock. Jefferies Group also issued estimates for Forum Energy Technologies’ Q4 2018 earnings at $0.09 EPS, FY2019 earnings at $0.65 EPS and FY2020 earnings at $1.30 EPS.

Forum Energy Technologies (NYSE:FET) last posted its quarterly 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). Forum Energy Technologies had a negative return on equity of 3.11% and a negative net margin of 6.99%. The firm had revenue of $247.70 million for the quarter, compared to the consensus estimate of $249.85 million. During the same period in the previous year, the company posted ($0.16) EPS. Forum Energy Technologies’s quarterly revenue was up 68.4% compared to the same quarter last year.

A number of other research firms also recently issued reports on FET. Zacks Investment Research downgraded Forum Energy Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Cowen set a $13.00 price target on Forum Energy Technologies and gave the stock a “hold” rating in a research report on Thursday, January 11th. Barclays reissued a “hold” rating and set a $17.00 price target on shares of Forum Energy Technologies in a research report on Sunday, November 5th. Capital One Financial raised Forum Energy Technologies from an “equal weight” rating to an “overweight” rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. dropped their price target on Forum Energy Technologies from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $16.50.

Forum Energy Technologies (NYSE:FET) opened at $11.40 on Wednesday. Forum Energy Technologies has a 12-month low of $10.05 and a 12-month high of $23.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.76 and a current ratio of 3.74. The stock has a market capitalization of $1,237.71, a price-to-earnings ratio of -17.54 and a beta of 1.70.

Hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors boosted its position in Forum Energy Technologies by 1.7% during 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 purchasing an additional 1,083 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Forum Energy Technologies by 69.7% in the second quarter. Goldman Sachs Group Inc. now owns 186,810 shares of the oil and gas company’s stock worth $2,915,000 after acquiring an additional 76,721 shares in the last quarter. State Street Corp boosted its holdings in Forum Energy Technologies by 10.8% in the second quarter. State Street Corp now owns 1,770,754 shares of the oil and gas company’s stock worth $27,626,000 after acquiring an additional 172,953 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in 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 worth $2,889,000 after acquiring an additional 25,267 shares in the last quarter. Finally, Contrarius Investment Management Ltd acquired a new stake in Forum Energy Technologies in the third quarter worth about $3,883,000. 95.12% of the stock is currently 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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