Press coverage about Forum Energy Technologies (NYSE:FET) has been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies positive and negative press coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Forum Energy Technologies earned a media sentiment score of 0.07 on Accern’s scale. Accern also gave media stories about the oil and gas company an impact score of 48.7797543519659 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
These are some of the media headlines that may have impacted Accern’s scoring:
- Is There Strength Behind the Numbers For Forum Energy Technologies Inc (FET) (parkcitycaller.com)
- Forum Energy Technologies, Inc. (FET) Reaches $14.65 After 4.00% Up Move; 3 Analysts Bullish ClearOne, Inc. (CLRO) (mtastar.com)
- Mark G. McGrew (panews.com)
- Shares Seesawing on Volume: Allegheny Technologies Inc (ATI) and Forum Energy Technologies Inc (FET) (parkcitycaller.com)
- Irish outing for marine ROV (renews.biz)
FET stock opened at $14.80 on Wednesday. Forum Energy Technologies has a 52-week low of $14.20 and a 52-week high of $14.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.31 and a current ratio of 3.47.
Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Tuesday, May 1st. The oil and gas company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.02). The company had revenue of $250.20 million for the quarter, compared to the consensus estimate of $245.23 million. Forum Energy Technologies had a negative return on equity of 2.40% and a negative net margin of 1.48%. sell-side analysts expect that Forum Energy Technologies will post 0.02 earnings per share for the current year.
FET has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Citigroup raised their price target on shares of Forum Energy Technologies from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, May 2nd. Capital One raised shares of Forum Energy Technologies from an “equal weight” rating to an “overweight” rating in a report on Friday, February 9th. JPMorgan Chase lowered their price target on shares of Forum Energy Technologies from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, February 12th. Finally, B. Riley set a $13.00 target price on shares of Forum Energy Technologies and gave the company a “neutral” rating in a research report on Monday, February 12th. 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’s stock. Forum Energy Technologies presently has a consensus rating of “Hold” and an average target price of $15.00.
In other Forum Energy Technologies news, CEO Prady Iyyanki purchased 90,000 shares of Forum Energy Technologies stock in a transaction on Friday, March 2nd. The stock was bought at an average price of $10.63 per share, for a total transaction of $956,700.00. Following the transaction, the chief executive officer now owns 443,417 shares of the company’s stock, valued at approximately $4,713,522.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 30.00% of the company’s stock.
Forum Energy Technologies Company Profile
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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