Forum Energy Technologies (NYSE:FET) is set to announce its earnings results after the market closes on Wednesday, April 25th.
Forum Energy Technologies (NYSE:FET) last issued its earnings results on Thursday, February 8th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Forum Energy Technologies had a negative return on equity of 2.98% and a negative net margin of 6.99%. The firm had revenue of $247.70 million during the quarter, compared to analyst estimates of $249.85 million. During the same period in the previous year, the company earned ($0.16) earnings per share. The business’s revenue for the quarter was up 68.4% on a year-over-year basis. On average, analysts expect Forum Energy Technologies to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Shares of FET stock opened at $12.05 on Monday. The company has a current ratio of 3.65, a quick ratio of 1.61 and a debt-to-equity ratio of 0.36. Forum Energy Technologies has a fifty-two week low of $10.05 and a fifty-two week high of $19.65. The stock has a market capitalization of $1,307.91, a price-to-earnings ratio of -31.71 and a beta of 1.90.
Several research analysts have weighed in on FET shares. Jefferies Group set a $17.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a research report on Thursday, January 4th. Zacks Investment Research raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, March 20th. Piper Jaffray set a $13.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a research report on Sunday, April 8th. Cowen reaffirmed a “market perform” rating and issued a $10.00 target price (down from $13.00) on shares of Forum Energy Technologies in a research report on Monday, February 12th. Finally, TheStreet raised Forum Energy Technologies from a “d+” rating to a “c-” rating in a research report on Friday, February 9th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $15.38.
In related news, CEO Prady Iyyanki acquired 90,000 shares of the stock in a transaction dated Friday, March 2nd. The shares were acquired at an average price of $10.63 per share, with a total value of $956,700.00. Following the acquisition, the chief executive officer now owns 443,417 shares in the company, valued at approximately $4,713,522.71. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 30.00% of the company’s stock.
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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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