FY2017 EPS Estimates for Forum Energy Technologies, Inc. (FET) Raised by Analyst

Forum Energy Technologies, Inc. (NYSE:FET) – Research analysts at Capital One Financial Corporation upped their FY2017 earnings estimates for shares of Forum Energy Technologies in a research report issued on Monday. Capital One Financial Corporation analyst J. Gibney now anticipates that the oil and gas company will post earnings of ($0.29) per share for the year, up from their prior estimate of ($0.33). Capital One Financial Corporation currently has a “Equal Weight” rating on the stock. Capital One Financial Corporation also issued estimates for Forum Energy Technologies’ Q4 2017 earnings at $0.00 EPS and FY2018 earnings at $0.09 EPS.

A number of other equities analysts also recently issued reports on the company. Deutsche Bank AG began coverage on Forum Energy Technologies in a research report on Tuesday. They set a “hold” rating and a $17.00 price target on the stock. Cowen and Company set a $11.00 price target on Forum Energy Technologies and gave the stock a “hold” rating in a research report on Friday, October 6th. Jefferies Group LLC set a $17.00 price target on Forum Energy Technologies and gave the stock a “hold” rating in a research report on Thursday, October 5th. Citigroup Inc. increased their price target on Forum Energy Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, October 5th. Finally, Credit Suisse Group downgraded Forum Energy Technologies from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $12.00 in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. Forum Energy Technologies has a consensus rating of “Hold” and an average price target of $18.73.

ILLEGAL ACTIVITY WARNING: “FY2017 EPS Estimates for Forum Energy Technologies, Inc. (FET) Raised by Analyst” was reported by Markets Daily and is owned by of Markets Daily. If you are accessing this report on another publication, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this report can be read at https://www.themarketsdaily.com/2017/10/12/fy2017-eps-estimates-for-forum-energy-technologies-inc-fet-raised-by-analyst.html.

Shares of Forum Energy Technologies (NYSE:FET) opened at 14.60 on Wednesday. Forum Energy Technologies has a 12-month low of $10.05 and a 12-month high of $26.25. The company’s market cap is $1.40 billion. The company has a 50-day moving average of $13.57 and a 200 day moving average of $15.46.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $201.10 million for the quarter, compared to analysts’ expectations of $194.16 million. Forum Energy Technologies had a negative net margin of 18.89% and a negative return on equity of 4.55%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. acquired a new stake in Forum Energy Technologies in the first quarter worth about $107,000. Cutler Group LP boosted its holdings in Forum Energy Technologies by 22.8% in the second quarter. Cutler Group LP now owns 7,000 shares of the oil and gas company’s stock worth $109,000 after acquiring an additional 1,300 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in Forum Energy Technologies in the second quarter worth about $116,000. Independent Portfolio Consultants Inc. boosted its holdings in Forum Energy Technologies by 1,150.8% in the second quarter. Independent Portfolio Consultants Inc. now owns 7,505 shares of the oil and gas company’s stock worth $117,000 after acquiring an additional 6,905 shares in the last quarter. Finally, QS Investors LLC boosted its holdings in Forum Energy Technologies by 205.7% in the second quarter. QS Investors LLC now owns 8,323 shares of the oil and gas company’s stock worth $130,000 after acquiring an additional 5,600 shares in the last quarter.

About Forum Energy Technologies

Forum Energy Technologies, Inc is an oilfield products company. The Company designs, manufactures and distributes products, and engages in aftermarket services, parts supply and related services. The Company operates through three segments: Drilling & Subsea, Completions, and Production & Infrastructure.

Earnings History and Estimates for Forum Energy Technologies (NYSE:FET)

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

Latest News

Leave a Reply