Forum Energy Technologies, Inc. (NYSE:FET) – Equities research analysts at Gabelli decreased their FY2018 earnings estimates for Forum Energy Technologies in a research note issued on Wednesday. Gabelli analyst S. Wong now forecasts that the oil and gas company will post earnings per share of $0.25 for the year, down from their previous estimate of $0.30.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.10). Forum Energy Technologies had a negative net margin of 16.85% and a negative return on equity of 3.94%. The firm had revenue of $198.70 million during the quarter, compared to analyst estimates of $200.96 million. During the same quarter in the prior year, the business posted ($0.19) earnings per share. The company’s quarterly revenue was up 43.7% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: “FY2018 Earnings Estimate for Forum Energy Technologies, Inc. Issued By Gabelli (FET)” was first published by Watch List News and is owned by of Watch List News. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of international trademark and copyright legislation. The original version of this news story can be read at https://www.watchlistnews.com/fy2018-earnings-estimate-for-forum-energy-technologies-inc-issued-by-gabelli-fet/1673967.html.

Several other analysts also recently commented on FET. BidaskClub raised shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Jefferies Group LLC set a $17.00 price objective on shares of Forum Energy Technologies and gave the company a “hold” rating in a report on Thursday, July 6th. Cowen and Company reissued a “hold” rating and issued a $15.00 price objective on shares of Forum Energy Technologies in a report on Tuesday, July 11th. Barclays PLC downgraded shares of Forum Energy Technologies from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $24.00 to $16.00 in a report on Wednesday, July 12th. Finally, Zacks Investment Research downgraded shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $18.56.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Gamco Investors INC. ET AL purchased a new stake in Forum Energy Technologies during the third quarter worth about $485,000. Kornitzer Capital Management Inc. KS increased its holdings in Forum Energy Technologies by 22.3% during the third quarter. Kornitzer Capital Management Inc. KS now owns 1,077,944 shares of the oil and gas company’s stock worth $17,139,000 after buying an additional 196,595 shares during the last quarter. Palisade Capital Management LLC NJ increased its holdings in Forum Energy Technologies by 13.5% during the third quarter. Palisade Capital Management LLC NJ now owns 611,702 shares of the oil and gas company’s stock worth $9,726,000 after buying an additional 72,660 shares during the last quarter. Miller Howard Investments Inc. NY increased its holdings in Forum Energy Technologies by 19.4% during the third quarter. Miller Howard Investments Inc. NY now owns 355,951 shares of the oil and gas company’s stock worth $5,660,000 after buying an additional 57,813 shares during the last quarter. Finally, Mesirow Financial Investment Management Equity Management increased its holdings in Forum Energy Technologies by 22.5% during the third quarter. Mesirow Financial Investment Management Equity Management now owns 1,144,310 shares of the oil and gas company’s stock worth $18,194,000 after buying an additional 210,145 shares during the last quarter. Institutional investors and hedge funds own 97.19% of the company’s stock.

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.

Earnings History and Estimates for Forum Energy Technologies (NYSE:FET)

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