Forum Energy Technologies Inc (FET) to Post Q2 2018 Earnings of ($0.02) Per Share, Capital One Financial Forecasts

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Forum Energy Technologies Inc (NYSE:FET) – Equities research analysts at Capital One Financial raised their Q2 2018 earnings per share estimates for Forum Energy Technologies in a report issued on Tuesday, June 12th. Capital One Financial analyst J. Gibney now expects that the oil and gas company will post earnings per share of ($0.02) for the quarter, up from their previous estimate of ($0.03). Capital One Financial also issued estimates for Forum Energy Technologies’ Q3 2018 earnings at $0.01 EPS, Q4 2018 earnings at $0.03 EPS, FY2018 earnings at ($0.06) EPS, Q2 2019 earnings at $0.06 EPS and FY2019 earnings at $0.28 EPS.

FET has been the subject of several other research reports. Zacks Investment Research cut shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a research note on Monday, April 16th. ValuEngine cut shares of Forum Energy Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Piper Jaffray Companies set a $13.00 price objective on shares of Forum Energy Technologies and gave the company a “hold” rating in a research note on Sunday, April 8th. Finally, Citigroup boosted their price objective on shares of Forum Energy Technologies from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.58.

Shares of Forum Energy Technologies opened at $12.05 on Thursday, Marketbeat Ratings reports. The company has a market cap of $1.37 billion, a P/E ratio of -31.71 and a beta of 1.90. Forum Energy Technologies has a 12 month low of $10.05 and a 12 month high of $17.95. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.47 and a quick ratio of 1.31.

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 consensus estimate of ($0.05) by ($0.02). The firm had revenue of $250.20 million for the quarter, compared to analysts’ expectations of $245.23 million. Forum Energy Technologies had a negative net margin of 1.48% and a negative return on equity of 2.40%.

A number of institutional investors have recently made changes to their positions in FET. Millennium Management LLC bought a new stake in Forum Energy Technologies during the first quarter valued at approximately $27,219,000. Neuberger Berman Group LLC bought a new stake in Forum Energy Technologies during the first quarter valued at approximately $11,659,000. Boston Partners lifted its position in Forum Energy Technologies by 79.4% during the first quarter. Boston Partners now owns 1,768,161 shares of the oil and gas company’s stock valued at $19,450,000 after purchasing an additional 782,385 shares during the last quarter. Stifel Financial Corp bought a new stake in shares of Forum Energy Technologies in the 1st quarter worth approximately $7,660,000. Finally, Mitchell Group Inc. bought a new stake in shares of Forum Energy Technologies in the 1st quarter worth approximately $7,493,000. Institutional investors and hedge funds own 97.96% 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.

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

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