Forum Energy Technologies Inc (NYSE:FET) – Analysts at Piper Jaffray Companies cut their Q1 2019 earnings estimates for Forum Energy Technologies in a research report issued on Monday, February 11th. Piper Jaffray Companies analyst J. Watson now expects that the oil and gas company will post earnings per share of ($0.06) for the quarter, down from their prior forecast of ($0.04). Piper Jaffray Companies also issued estimates for Forum Energy Technologies’ Q2 2019 earnings at ($0.03) EPS, Q3 2019 earnings at $0.00 EPS, Q4 2019 earnings at $0.02 EPS, Q1 2020 earnings at $0.04 EPS, Q2 2020 earnings at $0.06 EPS, Q3 2020 earnings at $0.08 EPS, Q4 2020 earnings at $0.09 EPS and FY2020 earnings at $0.28 EPS.

Forum Energy Technologies (NYSE:FET) last posted its earnings results on Thursday, February 7th. The oil and gas company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.11. Forum Energy Technologies had a positive return on equity of 0.15% and a negative net margin of 35.15%. The firm had revenue of $272.90 million for the quarter, compared to analysts’ expectations of $257.82 million. During the same period last year, the firm earned ($0.04) EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis.

Other equities research analysts have also recently issued reports about the company. Gabelli restated a “buy” rating on shares of Forum Energy Technologies in a research report on Monday, February 11th. TheStreet cut Forum Energy Technologies from a “c-” rating to a “d+” rating in a research report on Thursday, December 27th. Capital One Financial cut Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 16th. Citigroup dropped their target price on Forum Energy Technologies from $10.00 to $8.00 and set a “hold” rating on the stock in a research report on Monday, November 19th. Finally, Morgan Stanley set a $12.00 target price on Forum Energy Technologies and gave the company a “hold” rating in a research report on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $11.65.

NYSE:FET opened at $6.59 on Thursday. Forum Energy Technologies has a 52 week low of $3.51 and a 52 week high of $16.02. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.25 and a current ratio of 3.47. The stock has a market cap of $711.79 million, a PE ratio of 329.50 and a beta of 2.28.

Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its stake in Forum Energy Technologies by 25.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 9,083 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 1,833 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in Forum Energy Technologies by 920.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 10,784 shares of the oil and gas company’s stock valued at $1,042,000 after buying an additional 9,727 shares in the last quarter. Jefferies Group LLC purchased a new position in Forum Energy Technologies in the 3rd quarter valued at about $112,000. Citigroup Inc. lifted its stake in Forum Energy Technologies by 588.6% in the 4th quarter. Citigroup Inc. now owns 12,181 shares of the oil and gas company’s stock valued at $50,000 after buying an additional 10,412 shares in the last quarter. Finally, CWM Advisors LLC lifted its stake in Forum Energy Technologies by 102.0% in the 4th quarter. CWM Advisors LLC now owns 20,257 shares of the oil and gas company’s stock valued at $84,000 after buying an additional 10,228 shares in the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Forum Energy Technologies Company Profile

Forum Energy Technologies, Inc designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates in three segments: Drilling & Subsea, Completions, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the drilling, energy subsea construction and service markets, and other markets, such as alternative energy, defense, and communications.

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

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