Jefferies Group Reiterates $17.00 Price Target for Forum Energy Technologies (FET)
Jefferies Group set a $17.00 price objective on Forum Energy Technologies (NYSE:FET) in a research note issued to investors on Thursday. The brokerage currently has a hold rating on the oil and gas company’s stock. Jefferies Group also issued estimates for Forum Energy Technologies’ FY2019 earnings at $0.70 EPS and FY2020 earnings at $1.35 EPS.
Several other brokerages also recently weighed in on FET. Zacks Investment Research downgraded Forum Energy Technologies from a hold rating to a sell rating in a research report on Wednesday, January 3rd. Citigroup boosted their price objective on Forum Energy Technologies from $14.00 to $16.00 and gave the company a neutral rating in a research report on Thursday, October 5th. Deutsche Bank began coverage on Forum Energy Technologies in a research report on Tuesday, October 10th. They issued a hold rating and a $17.00 price objective for the company. Cowen set a $11.00 price objective on Forum Energy Technologies and gave the company a hold rating in a research report on Friday, October 6th. Finally, Scotiabank set a $24.00 price objective on Forum Energy Technologies and gave the company a hold rating in a research report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. Forum Energy Technologies currently has a consensus rating of Hold and an average target price of $17.79.
Shares of Forum Energy Technologies (FET) traded up $0.50 on Thursday, reaching $17.10. The company’s stock had a trading volume of 1,464,114 shares, compared to its average volume of 1,275,240. The stock has a market capitalization of $1,840.00, a price-to-earnings ratio of -13.57 and a beta of 1.66. 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 has a 1-year low of $10.05 and a 1-year high of $26.25.
Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). Forum Energy Technologies had a negative return on equity of 3.97% and a negative net margin of 16.85%. The firm had revenue of $198.70 million during the quarter, compared to the consensus estimate of $200.96 million. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The business’s revenue was up 43.7% on a year-over-year basis. equities research analysts anticipate that Forum Energy Technologies will post -0.36 EPS for the current year.
Several institutional investors have recently made changes to their positions in FET. D.A. Davidson & CO. bought a new position in shares of Forum Energy Technologies during the second quarter valued at approximately $116,000. QS Investors LLC raised its holdings in shares of Forum Energy Technologies by 205.7% during the second quarter. QS Investors LLC now owns 8,323 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 5,600 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Forum Energy Technologies by 280.5% during the second quarter. BNP Paribas Arbitrage SA now owns 9,368 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 6,906 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Forum Energy Technologies by 86.4% during the third 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 acquiring 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 third quarter valued at approximately $185,000. Institutional investors own 95.72% of the company’s stock.
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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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