Forum Energy Technologies (FET) Posts Earnings Results, Beats Expectations By $0.01 EPS

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

FET stock opened at $8.09 on Tuesday. Forum Energy Technologies has a 52-week low of $7.97 and a 52-week high of $17.95. The company has a current ratio of 3.34, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33. The company has a market cap of $937.02 million, a PE ratio of -21.29 and a beta of 2.02.

FET has been the topic of a number of research reports. ValuEngine downgraded shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Barclays set a $12.00 price target on shares of Forum Energy Technologies and gave the company a “hold” rating in a report on Wednesday, October 10th. Zacks Investment Research upgraded shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Morgan Stanley initiated coverage on shares of Forum Energy Technologies in a report on Tuesday, September 18th. They set an “equal weight” rating and a $13.00 price target on the stock. Finally, Citigroup cut their price target 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $13.27.

About Forum Energy Technologies

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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Earnings History for Forum Energy Technologies (NYSE:FET)

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