Brokerages Expect Forum Energy Technologies Inc (FET) Will Announce Quarterly Sales of $249.39 Million
Analysts expect that Forum Energy Technologies Inc (NYSE:FET) will announce sales of $249.39 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Forum Energy Technologies’ earnings, with the lowest sales estimate coming in at $245.90 million and the highest estimate coming in at $252.50 million. Forum Energy Technologies reported sales of $147.10 million during the same quarter last year, which indicates a positive year-over-year growth rate of 69.5%. The business is expected to report its next quarterly earnings report on Thursday, February 8th.
On average, analysts expect that Forum Energy Technologies will report full year sales of $249.39 million for the current financial year, with estimates ranging from $807.80 million to $825.60 million. For the next year, analysts expect that the business will report sales of $1.07 billion per share, with estimates ranging from $943.00 million to $1.14 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Forum Energy Technologies.
Forum Energy Technologies (NYSE:FET) last issued its earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.10). The company had revenue of $198.70 million for the quarter, compared to analysts’ expectations of $200.96 million. Forum Energy Technologies had a negative net margin of 16.85% and a negative return on equity of 3.97%. The firm’s revenue was up 43.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.19) earnings per share.
Institutional investors and hedge funds have recently made changes to their positions in the stock. D.A. Davidson & CO. bought a new position in Forum Energy Technologies in the 2nd quarter valued at about $116,000. QS Investors LLC boosted its position in shares of Forum Energy Technologies by 205.7% during the 2nd 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 in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Forum Energy Technologies by 280.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,368 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 6,906 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in shares of Forum Energy Technologies by 86.4% during the 3rd 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 in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Forum Energy Technologies during the 3rd quarter valued at about $185,000. Hedge funds and other institutional investors own 98.69% of the company’s stock.
Shares of Forum Energy Technologies (NYSE FET) traded down $0.40 during trading hours on Monday, hitting $13.20. 4,053,100 shares of the company’s stock were exchanged, compared to its average volume of 999,060. Forum Energy Technologies has a 52 week low of $10.05 and a 52 week high of $26.25. 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 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.
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