FY2017 EPS Estimates for Forum Energy Technologies Inc Lowered by Jefferies Group (FET)

Forum Energy Technologies Inc (NYSE:FET) – Stock analysts at Jefferies Group cut their FY2017 earnings estimates for shares of Forum Energy Technologies in a research note issued to investors on Thursday. Jefferies Group analyst B. Handler now expects that the oil and gas company will post earnings per share of ($0.37) for the year, down from their prior estimate of ($0.36). Jefferies Group has a “Hold” rating and a $17.00 price objective on the stock. Jefferies Group also issued estimates for Forum Energy Technologies’ Q4 2017 earnings at ($0.04) EPS.

Forum Energy Technologies (NYSE:FET) last announced its earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10). The business had revenue of $198.70 million for the quarter, compared to analyst estimates of $200.96 million. Forum Energy Technologies had a negative net margin of 16.85% and a negative return on equity of 3.97%. The company’s revenue for the quarter was up 43.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.19) earnings per share.

Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Cowen set a $11.00 target price on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research report on Friday, October 6th. Citigroup raised their target price on shares of Forum Energy Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, October 5th. Barclays restated a “hold” rating and set a $17.00 target price on shares of Forum Energy Technologies in a research report on Sunday, November 5th. Finally, Scotiabank set a $24.00 target price on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. Forum Energy Technologies currently has a consensus rating of “Hold” and an average price target of $17.79.

Forum Energy Technologies (NYSE FET) opened at $16.80 on Monday. The company has a current ratio of 3.74, a quick ratio of 1.76 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1,820.00, a P/E ratio of -13.33 and a beta of 1.66. Forum Energy Technologies has a 1 year low of $10.05 and a 1 year high of $26.25.

Several hedge funds and other institutional investors have recently modified their holdings of FET. D.A. Davidson & CO. acquired a new stake in shares of Forum Energy Technologies during the second quarter worth $116,000. QS Investors LLC lifted its holdings in shares of Forum Energy Technologies by 205.7% during the second quarter. QS Investors LLC now owns 8,323 shares of the oil and gas company’s stock worth $130,000 after purchasing an additional 5,600 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Forum Energy Technologies by 280.5% in the second quarter. BNP Paribas Arbitrage SA now owns 9,368 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 6,906 shares during the period. Bronfman E.L. Rothschild L.P. lifted its holdings in Forum Energy Technologies by 86.4% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 9,556 shares of the oil and gas company’s stock valued at $152,000 after acquiring an additional 4,429 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Forum Energy Technologies in the third quarter valued at $185,000. 95.72% of the stock is owned by hedge funds and other institutional investors.

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Forum Energy Technologies Company Profile

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)

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