Q1 2018 EPS Estimates for Forum Energy Technologies Inc (FET) Lowered by Analyst

Forum Energy Technologies Inc (NYSE:FET) – Stock analysts at Capital One Financial lowered their Q1 2018 earnings per share estimates for Forum Energy Technologies in a research note issued to investors on Monday. Capital One Financial analyst J. Gibney now expects that the oil and gas company will post earnings per share of ($0.05) for the quarter, down from their previous forecast of ($0.02). Capital One Financial currently has a “Overweight” rating on the stock. Capital One Financial also issued estimates for Forum Energy Technologies’ Q2 2018 earnings at ($0.04) EPS, Q3 2018 earnings at $0.01 EPS, Q4 2018 earnings at $0.07 EPS and FY2018 earnings at ($0.01) EPS.

FET has been the topic of several other research reports. Jefferies Group set a $17.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a report on Thursday, January 4th. Piper Jaffray Companies set a $13.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a report on Monday. TheStreet upgraded shares of Forum Energy Technologies from a “d+” rating to a “c-” rating in a report on Friday, February 9th. Deutsche Bank lowered their price objective on shares of Forum Energy Technologies from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Monday. Finally, B. Riley set a $13.00 price objective on shares of Forum Energy Technologies and gave the stock a “neutral” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $16.50.

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

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ 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 quarter in the previous year, the company posted ($0.16) EPS. The business’s quarterly revenue was up 68.4% on a year-over-year basis.

Several hedge funds have recently made changes to their positions in the company. Suntrust Banks Inc. raised its holdings in shares of Forum Energy Technologies by 0.5% in the second quarter. Suntrust Banks Inc. now owns 14,776 shares of the oil and gas company’s stock valued at $229,000 after purchasing an additional 68 shares during the last quarter. Nationwide Fund Advisors increased its holdings 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 worth $1,040,000 after buying an additional 1,083 shares during the last quarter. California State Teachers Retirement System increased its holdings in Forum Energy Technologies by 3.4% during the second quarter. California State Teachers Retirement System now owns 122,266 shares of the oil and gas company’s stock worth $1,907,000 after buying an additional 4,034 shares during the last quarter. Moody Aldrich Partners LLC increased its holdings in Forum Energy Technologies by 13.2% during the third quarter. Moody Aldrich Partners LLC now owns 34,703 shares of the oil and gas company’s stock worth $552,000 after buying an additional 4,038 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its holdings in Forum Energy Technologies by 86.4% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 9,556 shares of the oil and gas company’s stock worth $152,000 after buying an additional 4,429 shares during the last quarter. Institutional investors own 95.12% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Q1 2018 EPS Estimates for Forum Energy Technologies Inc (FET) Lowered by Analyst” was first published by American Banking News and is owned by of American Banking News. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of international trademark and copyright legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2018/02/15/q1-2018-eps-estimates-for-forum-energy-technologies-inc-fet-lowered-by-analyst.html.

Forum Energy Technologies Company Profile

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