Forum Energy Technologies (FET) Announces Quarterly Earnings Results

Forum Energy Technologies (NYSE:FET) posted its earnings results on Monday. The oil and gas company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01, Briefing.com reports. The company had revenue of $267.00 million for the quarter, compared to analyst estimates of $283.19 million. Forum Energy Technologies had a net margin of 5.08% and a negative return on equity of 1.72%. Forum Energy Technologies’s revenue was up 34.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) EPS.

Shares of FET stock opened at $8.09 on Tuesday. The company has a current ratio of 3.34, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33. Forum Energy Technologies has a one year low of $7.97 and a one year high of $17.95. The company has a market capitalization of $937.02 million, a PE ratio of -21.29 and a beta of 2.02.

Several equities analysts have weighed in on the stock. Piper Jaffray Companies upgraded shares of Forum Energy Technologies from a “neutral” rating to an “overweight” rating and set a $13.00 target price on the stock in a report on Tuesday, October 2nd. ValuEngine lowered shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Credit Suisse Group boosted their target price 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 decreased their target price on shares of Forum Energy Technologies from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, September 14th. Finally, Zacks Investment Research upgraded shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. Forum Energy Technologies presently has a consensus rating of “Hold” and a consensus price target of $13.27.



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.

Recommended Story: How is Preferred Stock Different from Common Stock?

Earnings History for Forum Energy Technologies (NYSE:FET)

Receive News & Ratings for Forum Energy Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forum Energy Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply