Wall Street brokerages expect Forum Energy Technologies Inc (NYSE:FET) to announce sales of $246.27 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Forum Energy Technologies’ earnings. The lowest sales estimate is $243.10 million and the highest is $250.00 million. Forum Energy Technologies reported sales of $171.10 million in the same quarter last year, which would suggest a positive year over year growth rate of 43.9%. The business is scheduled to announce its next earnings results on Thursday, April 26th.
According to Zacks, analysts expect that Forum Energy Technologies will report full-year sales of $246.27 million for the current year, with estimates ranging from $1.03 billion to $1.09 billion. For the next year, analysts forecast that the business will report sales of $1.23 billion per share, with estimates ranging from $1.08 billion to $1.32 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Forum Energy Technologies.
Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). Forum Energy Technologies had a negative net margin of 6.99% and a negative return on equity of 2.98%. The company had revenue of $247.70 million for the quarter, compared to analysts’ expectations of $249.85 million. During the same quarter in the previous year, the business posted ($0.16) EPS. The business’s quarterly revenue was up 68.4% on a year-over-year basis.
In other news, CEO Prady Iyyanki acquired 90,000 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was bought at an average cost of $10.63 per share, for a total transaction of $956,700.00. Following the purchase, the chief executive officer now owns 443,417 shares in the company, valued at $4,713,522.71. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 32.80% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the business. Bronfman E.L. Rothschild L.P. increased its stake in Forum Energy Technologies by 86.4% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 9,556 shares of the oil and gas company’s stock worth $152,000 after buying an additional 4,429 shares in the last quarter. MML Investors Services LLC purchased a new stake in Forum Energy Technologies during the 4th quarter worth approximately $159,000. Two Sigma Investments LP purchased a new stake in Forum Energy Technologies during the 4th quarter worth approximately $163,000. Amalgamated Bank purchased a new stake in Forum Energy Technologies during the 4th quarter worth approximately $167,000. Finally, SG Americas Securities LLC purchased a new stake in Forum Energy Technologies during the 3rd quarter worth approximately $185,000. Institutional investors own 94.23% of the company’s stock.
Forum Energy Technologies (FET) opened at $12.00 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.61 and a current ratio of 3.65. Forum Energy Technologies has a 52 week low of $10.05 and a 52 week high of $21.67.
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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.
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