Q1 2018 EPS Estimates for Forum Energy Technologies Inc (FET) Cut by Jefferies Group

Forum Energy Technologies Inc (NYSE:FET) – Stock analysts at Jefferies Group cut their Q1 2018 earnings per share (EPS) estimates for Forum Energy Technologies in a research report issued to clients and investors on Tuesday. Jefferies Group analyst B. Handler now expects that the oil and gas company will post earnings per share of ($0.06) for the quarter, down from their previous forecast of ($0.02). Jefferies Group currently has a “Buy” rating and a $15.00 target price on the stock. Jefferies Group also issued estimates for Forum Energy Technologies’ Q2 2018 earnings at ($0.02) EPS and FY2018 earnings at $0.05 EPS.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $249.85 million. During the same period last year, the business earned ($0.16) EPS. The business’s revenue was up 68.4% on a year-over-year basis.

FET has been the subject of a number of other research reports. Barclays reissued a “hold” rating and issued a $17.00 price objective on shares of Forum Energy Technologies in a research report on Sunday, November 5th. TheStreet raised shares of Forum Energy Technologies from a “d+” rating to a “c-” rating in a research report on Friday, February 9th. Cowen set a $13.00 price objective on shares of Forum Energy Technologies and gave the company a “hold” rating in a research report on Thursday, January 11th. Capital One Financial raised shares of Forum Energy Technologies from an “equal weight” rating to an “overweight” rating in a research report on Friday, February 9th. Finally, Zacks Investment Research downgraded shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Two investment 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’s stock. The company has an average rating of “Hold” and an average target price of $16.50.

Forum Energy Technologies (FET) opened at $12.25 on Thursday. Forum Energy Technologies has a 12-month low of $10.05 and a 12-month high of $23.00. The company has a market cap of $1,232.30, a PE ratio of -18.85 and a beta of 1.70. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.74 and a quick ratio of 1.76.

Hedge funds have recently made changes to their positions in the stock. Nationwide Fund Advisors boosted its holdings in shares of Forum Energy Technologies by 1.7% during the 2nd quarter. Nationwide Fund Advisors now owns 66,648 shares of the oil and gas company’s stock worth $1,040,000 after buying an additional 1,083 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Forum Energy Technologies by 69.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 186,810 shares of the oil and gas company’s stock worth $2,915,000 after buying an additional 76,721 shares during the period. State Street Corp raised its stake in Forum Energy Technologies by 10.8% in the 2nd quarter. State Street Corp now owns 1,770,754 shares of the oil and gas company’s stock worth $27,626,000 after purchasing an additional 172,953 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Forum Energy Technologies by 15.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 185,211 shares of the oil and gas company’s stock worth $2,889,000 after purchasing an additional 25,267 shares in the last quarter. Finally, Contrarius Investment Management Ltd acquired a new stake in Forum Energy Technologies in the 3rd quarter worth about $3,883,000. 95.12% of the stock is 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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