Jefferies Group Comments on Forum Energy Technologies, Inc.’s Q2 2018 Earnings (FET)

Forum Energy Technologies, Inc. (NYSE:FET) – Stock analysts at Jefferies Group reduced their Q2 2018 earnings per share (EPS) estimates for Forum Energy Technologies in a research report issued on Tuesday, according to Zacks Investment Research. Jefferies Group analyst B. Handler now forecasts that the oil and gas company will earn $0.01 per share for the quarter, down from their previous forecast of $0.02. Jefferies Group has a “Hold” rating and a $17.00 price objective on the stock. Jefferies Group also issued estimates for Forum Energy Technologies’ FY2018 earnings at $0.15 EPS, FY2019 earnings at $0.75 EPS and FY2020 earnings at $1.40 EPS.

Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Monday, October 16th. Capital One Financial Corporation downgraded Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 28th. Scotiabank set a $24.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a research report on Thursday, October 12th. Deutsche Bank AG began coverage on Forum Energy Technologies in a research report on Tuesday, October 10th. They set a “hold” rating and a $17.00 target price for the company. Finally, Cowen and Company set a $11.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a research report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $18.20.

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Shares of Forum Energy Technologies (NYSE FET) opened at $14.25 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.76 and a current ratio of 3.74. Forum Energy Technologies has a 52-week low of $10.05 and a 52-week high of $26.25.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Tuesday, October 31st. The oil and gas company reported ($0.10) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.10). Forum Energy Technologies had a negative return on equity of 3.97% and a negative net margin of 16.85%. The company had revenue of $198.70 million during the quarter, compared to the consensus estimate of $200.96 million. During the same quarter last year, the company earned ($0.19) EPS. The company’s quarterly revenue was up 43.7% on a year-over-year basis.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. increased its stake in shares of Forum Energy Technologies by 0.5% in the 2nd quarter. Suntrust Banks Inc. now owns 14,776 shares of the oil and gas company’s stock valued at $229,000 after buying an additional 68 shares during the period. US Bancorp DE increased its stake in shares of Forum Energy Technologies by 8.0% in the 2nd quarter. US Bancorp DE now owns 13,241 shares of the oil and gas company’s stock valued at $206,000 after buying an additional 986 shares during the period. Nationwide Fund Advisors increased its stake in shares of Forum Energy Technologies by 1.7% in the 2nd quarter. Nationwide Fund Advisors now owns 66,648 shares of the oil and gas company’s stock valued at $1,040,000 after buying an additional 1,083 shares during the period. Cutler Group LP increased its stake in shares of Forum Energy Technologies by 22.8% in the 2nd quarter. Cutler Group LP now owns 7,000 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 1,300 shares during the period. Finally, Texan Capital Management increased its stake in shares of Forum Energy Technologies by 8.3% in the 2nd quarter. Texan Capital Management now owns 16,900 shares of the oil and gas company’s stock valued at $264,000 after buying an additional 1,300 shares during the period. 98.58% of the stock is owned by institutional investors.

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.

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

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