Analysts forecast that Forum Energy Technologies Inc (NYSE:FET) will announce earnings per share of $0.02 for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Forum Energy Technologies’ earnings, with the highest EPS estimate coming in at $0.03 and the lowest estimate coming in at $0.00. Forum Energy Technologies reported earnings per share of ($0.10) during the same quarter last year, which would suggest a positive year over year growth rate of 120%. The company is scheduled to issue its next quarterly earnings report after the market closes on Monday, October 29th.
On average, analysts expect that Forum Energy Technologies will report full year earnings of ($0.03) per share for the current year, with EPS estimates ranging from ($0.10) to $0.00. For the next financial year, analysts expect that the business will report earnings of $0.23 per share, with EPS estimates ranging from $0.10 to $0.40. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Forum Energy Technologies.
Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings results on Monday, July 30th. The oil and gas company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $274.00 million for the quarter, compared to analysts’ expectations of $268.50 million. Forum Energy Technologies had a net margin of 5.08% and a negative return on equity of 1.72%. Forum Energy Technologies’s quarterly revenue was up 36.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.10) earnings per share.
FET has been the subject of several recent research reports. Piper Jaffray Companies upgraded Forum Energy Technologies from a “neutral” rating to an “overweight” rating and set a $13.00 price objective for the company in a report on Tuesday, October 2nd. ValuEngine downgraded shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Credit Suisse Group upped their price objective on shares of Forum Energy Technologies from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, August 1st. Citigroup dropped their target price on Forum Energy Technologies from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Friday, September 14th. Finally, Zacks Investment Research upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. Forum Energy Technologies presently has an average rating of “Hold” and an average price target of $14.25.
A number of large investors have recently made changes to their positions in the business. Millennium Management LLC purchased a new position in Forum Energy Technologies in the first quarter valued at about $27,219,000. Stifel Financial Corp acquired a new stake in shares of Forum Energy Technologies during the 1st quarter worth approximately $7,660,000. Precocity Capital LP acquired a new stake in shares of Forum Energy Technologies during the 1st quarter worth approximately $6,600,000. Dimensional Fund Advisors LP increased its position in Forum Energy Technologies by 9.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,583,131 shares of the oil and gas company’s stock valued at $61,414,000 after acquiring an additional 495,639 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Forum Energy Technologies by 186.5% in the 1st quarter. Point72 Asset Management L.P. now owns 742,300 shares of the oil and gas company’s stock valued at $8,165,000 after acquiring an additional 483,200 shares during the period. Institutional investors own 94.45% of the company’s stock.
NYSE FET traded up $0.25 on Wednesday, hitting $11.37. 65,201 shares of the stock were exchanged, compared to its average volume of 1,047,533. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -29.74 and a beta of 2.02. Forum Energy Technologies has a 52-week low of $9.95 and a 52-week high of $17.95. The company has a quick ratio of 1.22, a current ratio of 3.34 and a debt-to-equity ratio of 0.33.
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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