Forum Energy Technologies Inc (NYSE:FET) – Investment analysts at Capital One Financial dropped their FY2019 earnings per share estimates for Forum Energy Technologies in a research report issued to clients and investors on Monday. Capital One Financial analyst J. Gibney now forecasts that the oil and gas company will post earnings per share of $0.51 for the year, down from their prior forecast of $0.52. Capital One Financial has a “Overweight” rating on the stock.

FET has been the subject of several other reports. Jefferies Group set a $17.00 price objective on Forum Energy Technologies and gave the stock a “hold” rating in a research report on Thursday, January 4th. Barclays restated a “hold” rating and set a $17.00 price objective on shares of Forum Energy Technologies in a research report on Sunday, November 5th. Zacks Investment Research downgraded Forum Energy Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Cowen set a $13.00 price objective on Forum Energy Technologies and gave the stock a “hold” rating in a research report on Thursday, January 11th. Finally, TheStreet upgraded Forum Energy Technologies from a “d+” rating to a “c-” rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $16.50.

Shares of Forum Energy Technologies (NYSE FET) traded up $1.00 during trading on Wednesday, hitting $12.40. The company had a trading volume of 1,173,501 shares, compared to its average volume of 1,266,478. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.74 and a quick ratio of 1.76. 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 $1,237.71, a P/E ratio of -19.19 and a beta of 1.70.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings results on Thursday, February 8th. The oil and gas company reported ($0.04) EPS 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 firm had revenue of $247.70 million for the quarter, compared to analysts’ expectations of $249.85 million. During the same period last year, the firm earned ($0.16) EPS. Forum Energy Technologies’s revenue was up 68.4% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently modified their holdings of FET. Vaughan Nelson Investment Management L.P. raised its holdings in Forum Energy Technologies by 96.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 3,541,025 shares of the oil and gas company’s stock valued at $56,302,000 after acquiring an additional 1,738,375 shares during the last quarter. Citadel Advisors LLC acquired a new position in Forum Energy Technologies in the 3rd quarter valued at $19,272,000. Boston Partners acquired a new position in Forum Energy Technologies in the 3rd quarter valued at $14,297,000. Standard Life Aberdeen plc raised its holdings in Forum Energy Technologies by 15.9% in the 4th quarter. Standard Life Aberdeen plc now owns 4,754,589 shares of the oil and gas company’s stock valued at $74,053,000 after acquiring an additional 652,914 shares during the last quarter. Finally, SIR Capital Management L.P. raised its holdings in Forum Energy Technologies by 439.7% in the 4th quarter. SIR Capital Management L.P. now owns 707,532 shares of the oil and gas company’s stock valued at $11,002,000 after acquiring an additional 576,432 shares during the last quarter. Institutional investors own 95.12% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Capital One Financial Brokers Decrease Earnings Estimates for Forum Energy Technologies Inc (FET)” was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another website, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this story can be viewed at https://www.watchlistnews.com/capital-one-financial-brokers-decrease-earnings-estimates-for-forum-energy-technologies-inc-fet/1866248.html.

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)

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.