Forum Energy Technologies Inc (NYSE:FET) – Piper Jaffray Companies dropped their Q2 2020 earnings per share (EPS) estimates for shares of Forum Energy Technologies in a note issued to investors on Friday, July 12th. Piper Jaffray Companies analyst J. Watson now expects that the oil and gas company will post earnings per share of $0.01 for the quarter, down from their prior forecast of $0.06. Piper Jaffray Companies currently has a “Buy” rating and a $7.00 target price on the stock.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Thursday, April 25th. The oil and gas company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. The firm had revenue of $271.80 million for the quarter, compared to analysts’ expectations of $264.48 million. Forum Energy Technologies had a negative net margin of 37.76% and a positive return on equity of 0.40%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) EPS.

Several other research firms also recently issued reports on FET. Citigroup set a $5.00 price target on shares of Forum Energy Technologies and gave the company a “buy” rating in a research note on Thursday, June 20th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Barclays set a $192.00 target price on shares of Tesla and gave the stock a “sell” rating in a research note on Tuesday, April 9th. B. Riley set a $18.00 target price on shares of TiVo and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Bank of America reissued an “underperform” rating and set a $1.25 target price (down previously from $4.50) on shares of Superior Energy Services in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $8.34.

FET stock opened at $2.72 on Monday. The company’s fifty day simple moving average is $3.40. The company has a market capitalization of $330.83 million, a P/E ratio of 136.00 and a beta of 2.34. Forum Energy Technologies has a 52-week low of $2.66 and a 52-week high of $13.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 1.16.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC increased its stake in Forum Energy Technologies by 243.0% in the fourth quarter. Millennium Management LLC now owns 3,678,074 shares of the oil and gas company’s stock valued at $15,190,000 after purchasing an additional 2,605,832 shares in the last quarter. FMR LLC increased its stake in Forum Energy Technologies by 81.7% in the first quarter. FMR LLC now owns 3,014,397 shares of the oil and gas company’s stock valued at $15,404,000 after purchasing an additional 1,355,397 shares in the last quarter. Deutsche Bank AG increased its stake in Forum Energy Technologies by 128.8% in the fourth quarter. Deutsche Bank AG now owns 1,493,706 shares of the oil and gas company’s stock valued at $6,168,000 after purchasing an additional 840,775 shares in the last quarter. Two Sigma Investments LP bought a new stake in Forum Energy Technologies in the fourth quarter valued at $2,544,000. Finally, Sapience Investments LLC increased its stake in Forum Energy Technologies by 16.1% in the first quarter. Sapience Investments LLC now owns 2,885,170 shares of the oil and gas company’s stock valued at $14,743,000 after purchasing an additional 399,050 shares in the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

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 through 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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