Forum Energy Technologies (NYSE:FET) Receiving Somewhat Positive Media Coverage, Study Shows
News coverage about Forum Energy Technologies (NYSE:FET) has been trending somewhat positive on Friday, Accern Sentiment reports. The research firm identifies positive and negative press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Forum Energy Technologies earned a news sentiment score of 0.22 on Accern’s scale. Accern also assigned press coverage about the oil and gas company an impact score of 55 out of 100, indicating that recent press coverage is somewhat likely 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 impacted Accern Sentiment’s rankings:
- Barclays Downgrades Rating On Forum Energy Technologies, Inc. (FET) (highlightpress.com)
- Forum Energy Technologies, Inc. (FET) Sees New 52-Week High (highlightpress.com)
- Clearbridge Investments LLC Sells 35 Shares of Forum Energy Technologies, Inc. (FET) (ibusinesslines.com)
- [$$] Pelican Energy Partners Sells Multilift (finance.yahoo.com)
- Research Analysts Offer Predictions for Forum Energy Technologies, Inc.’s Q3 2017 Earnings (NYSE:FET) (americanbankingnews.com)
Forum Energy Technologies (NYSE:FET) traded up 0.33% during mid-day trading on Friday, reaching $15.25. The company’s stock had a trading volume of 802,913 shares. The firm has a 50-day moving average of $16.34 and a 200-day moving average of $19.71. Forum Energy Technologies has a 52 week low of $14.05 and a 52 week high of $26.25. The stock’s market capitalization is $1.46 billion.
Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, April 27th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. The business had revenue of $171.10 million during the quarter, compared to the consensus estimate of $164.38 million. Forum Energy Technologies had a negative return on equity of 5.16% and a negative net margin of 12.50%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.22) earnings per share. On average, equities research analysts expect that Forum Energy Technologies will post ($0.30) earnings per share for the current year.
FET has been the topic of several recent research reports. Zacks Investment Research upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Tuesday, April 18th. TheStreet downgraded Forum Energy Technologies from a “c-” rating to a “d+” rating in a report on Thursday, May 25th. Deutsche Bank AG restated a “buy” rating and set a $25.00 price target (down previously from $26.00) on shares of Forum Energy Technologies in a report on Tuesday, May 30th. Wolfe Research downgraded Forum Energy Technologies from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $24.00 to $21.00 in a report on Monday, April 17th. Finally, Morgan Stanley restated an “equal weight” rating and set a $19.00 price target (down previously from $25.00) on shares of Forum Energy Technologies in a report on Wednesday, June 21st. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $20.76.
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.
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