Forum Energy Technologies Inc. (NYSE:FET) – Research analysts at Gabelli issued their FY2016 earnings estimates for shares of Forum Energy Technologies in a research report issued on Thursday. Gabelli analyst S. Wong anticipates that the brokerage will earn ($0.80) per share for the year. Gabelli has a “Hold” rating and a $21.00 price objective on the stock. Gabelli also issued estimates for Forum Energy Technologies’ FY2017 earnings at ($0.30) EPS, FY2018 earnings at $0.45 EPS, FY2019 earnings at $1.10 EPS and FY2020 earnings at $1.85 EPS.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings data on Friday, July 29th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.07. The company earned $142.80 million during the quarter, compared to analyst estimates of $143.17 million. Forum Energy Technologies had a negative net margin of 28.04% and a negative return on equity of 3.20%. Forum Energy Technologies’s quarterly revenue was down 49.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 earnings per share.

Other equities research analysts have also issued research reports about the company. Iberia Capital upgraded Forum Energy Technologies from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $18.00 to $21.00 in a research report on Monday, August 1st. JPMorgan Chase & Co. lowered Forum Energy Technologies from a “neutral” rating to an “underweight” rating and set a $10.00 price objective on the stock. in a research report on Tuesday, July 12th. Citigroup Inc. increased their target price on Forum Energy Technologies from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, July 13th. Credit Suisse Group AG reiterated a “hold” rating on shares of Forum Energy Technologies in a research report on Monday, June 13th. Finally, Simmons reiterated a “neutral” rating and set a $18.00 target price (up previously from $15.25) on shares of Forum Energy Technologies in a research report on Thursday, July 7th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.45.

Forum Energy Technologies (NYSE:FET) opened at 17.21 on Monday. The firm’s 50-day moving average is $17.52 and its 200 day moving average is $16.02. The stock’s market capitalization is $1.56 billion. Forum Energy Technologies has a 1-year low of $8.47 and a 1-year high of $19.32.

Several hedge funds have recently modified their holdings of FET. Public Employees Retirement System of Ohio increased its stake in shares of Forum Energy Technologies by 13.8% in the second quarter. Public Employees Retirement System of Ohio now owns 5,774 shares of the company’s stock worth $100,000 after buying an additional 700 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Forum Energy Technologies by 8.2% in the first quarter. Envestnet Asset Management Inc. now owns 9,868 shares of the company’s stock worth $130,000 after buying an additional 749 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Forum Energy Technologies by 7.2% in the second quarter. Teacher Retirement System of Texas now owns 8,274 shares of the company’s stock worth $143,000 after buying an additional 555 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new stake in shares of Forum Energy Technologies during the second quarter worth about $175,000. Finally, Legal & General Group Plc increased its stake in shares of Forum Energy Technologies by 28.9% in the first quarter. Legal & General Group Plc now owns 15,001 shares of the company’s stock worth $198,000 after buying an additional 3,364 shares during the last quarter.

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. It operates through two segments: Drilling & Subsea, and Production & Infrastructure. Its product offering includes a mix of engineered capital products and replaced items that are used in the exploration, development, production and transportation of oil and natural gas.

5 Day Chart for NYSE:FET

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