Forum Energy Technologies (NYSE:FET) – Research analysts at Piper Jaffray issued their Q1 2018 earnings per share estimates for Forum Energy Technologies in a report released on Sunday, April 8th. Piper Jaffray analyst J. Daniel anticipates that the oil and gas company will post earnings of ($0.06) per share for the quarter. Piper Jaffray has a “Hold” rating and a $13.00 price objective on the stock. Piper Jaffray also issued estimates for Forum Energy Technologies’ Q2 2018 earnings at ($0.02) EPS, Q3 2018 earnings at $0.01 EPS, Q4 2018 earnings at $0.03 EPS, FY2018 earnings at ($0.03) EPS, Q1 2019 earnings at $0.06 EPS, Q2 2019 earnings at $0.10 EPS, Q3 2019 earnings at $0.15 EPS, Q4 2019 earnings at $0.17 EPS and Q1 2020 earnings at $0.17 EPS.
FET has been the topic of a number of other reports. Deutsche Bank reduced their price objective on shares of Forum Energy Technologies from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Monday, February 12th. Cowen restated a “market perform” rating and set a $10.00 price objective (down previously from $13.00) on shares of Forum Energy Technologies in a report on Monday, February 12th. JPMorgan Chase lowered their price objective on shares of Forum Energy Technologies from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. Zacks Investment Research upgraded shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, March 20th. Finally, B. Riley set a $13.00 price objective on shares of Forum Energy Technologies and gave the stock a “neutral” rating in a report on Monday, February 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. Forum Energy Technologies presently has an average rating of “Hold” and a consensus price target of $15.79.
Forum Energy Technologies (NYSE:FET) last issued its earnings results on Thursday, February 8th. The oil and gas company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The firm had revenue of $247.70 million during the quarter, compared to analyst estimates of $249.85 million. Forum Energy Technologies had a negative net margin of 6.99% and a negative return on equity of 2.98%. Forum Energy Technologies’s quarterly revenue was up 68.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.16) earnings per share.
Institutional investors and hedge funds have recently bought and sold shares of the stock. MML Investors Services LLC bought a new position in Forum Energy Technologies during the fourth quarter valued at about $159,000. Two Sigma Investments LP bought a new position in Forum Energy Technologies during the fourth quarter valued at about $163,000. Amalgamated Bank bought a new position in Forum Energy Technologies during the fourth quarter valued at about $167,000. SG Americas Securities LLC bought a new position in Forum Energy Technologies during the third quarter valued at about $185,000. Finally, ETRADE Capital Management LLC bought a new position in Forum Energy Technologies during the fourth quarter valued at about $213,000. Institutional investors own 94.25% of the company’s stock.
In other news, CEO Prady Iyyanki bought 90,000 shares of the stock in a transaction dated Friday, March 2nd. The stock was bought at an average price of $10.63 per share, for a total transaction of $956,700.00. Following the completion of the acquisition, the chief executive officer now directly 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 accessible through this hyperlink. Corporate insiders own 30.00% of the company’s stock.
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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