Forum Energy Technologies (FET) Getting Somewhat Positive Press Coverage, Study Finds
Headlines about Forum Energy Technologies (NYSE:FET) have been trending somewhat positive on Thursday, Accern Sentiment reports. The research firm identifies positive and negative press coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Forum Energy Technologies earned a daily sentiment score of 0.17 on Accern’s scale. Accern also gave press coverage about the oil and gas company an impact score of 47.1583194908855 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Here are some of the news stories that may have effected Accern’s rankings:
- Forum Energy Technologies, Inc. (FET) Price Target Increased to $16.00 by Analysts at Citigroup Inc. (americanbankingnews.com)
- Stock Hold Signal: Forum Energy Technologies, Inc. (FET) – Street Observer (press release) (streetobserver.com)
- Forum Energy Technologies, Inc. (FET) Given Average Recommendation of “Hold” by Brokerages (americanbankingnews.com)
- Technical Story: Forum Energy Technologies, Inc. (FET) stands 16.92% away from 50 SMA – Voice Of Analysts (analystsbuzz.com)
- Forum Energy Technologies, Inc. (FET) Expected to Post Quarterly Sales of $219.82 Million (americanbankingnews.com)
Shares of Forum Energy Technologies (NYSE FET) traded up 0.65% during midday trading on Thursday, reaching $15.50. The company had a trading volume of 814,020 shares. The stock’s 50 day moving average is $12.91 and its 200-day moving average is $15.60. Forum Energy Technologies has a 12-month low of $10.05 and a 12-month high of $26.25. The stock’s market capitalization is $1.49 billion.
Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. The business had revenue of $201.10 million for the quarter, compared to analyst estimates of $194.16 million. Forum Energy Technologies had a negative return on equity of 4.55% and a negative net margin of 18.89%. On average, equities research analysts predict that Forum Energy Technologies will post ($0.30) earnings per share for the current fiscal year.
FET has been the topic of a number of recent analyst reports. BidaskClub cut Forum Energy Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Credit Suisse Group cut Forum Energy Technologies from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $12.00 in a report on Thursday, August 24th. Morgan Stanley restated an “equal weight” rating and set a $19.00 target price (down previously from $25.00) on shares of Forum Energy Technologies in a report on Wednesday, June 21st. Jefferies Group LLC set a $17.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research upgraded Forum Energy Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $19.27.
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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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