Forum Energy Technologies Inc (NYSE:FET) – Equities research analysts at B. Riley issued their Q1 2020 EPS estimates for shares of Forum Energy Technologies in a research report issued on Tuesday, February 19th. B. Riley analyst T. Curran anticipates that the oil and gas company will post earnings of $0.01 per share for the quarter. B. Riley has a “Neutral” rating on the stock. B. Riley also issued estimates for Forum Energy Technologies’ Q2 2020 earnings at $0.04 EPS, Q3 2020 earnings at $0.09 EPS, Q4 2020 earnings at $0.12 EPS and FY2020 earnings at $0.26 EPS.
A number of other brokerages also recently weighed in on FET. Citigroup cut their target price on Forum Energy Technologies from $10.00 to $8.00 and set a “hold” rating on the stock in a research note on Monday, November 19th. Morgan Stanley set a $12.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a research note on Tuesday, November 6th. Credit Suisse Group cut their target price on Forum Energy Technologies from $12.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, October 31st. Zacks Investment Research upgraded Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. Finally, Bank of America started coverage on Forum Energy Technologies in a research note on Monday, December 3rd. They issued a “neutral” rating and a $7.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $11.65.
Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Thursday, February 7th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.11. The business had revenue of $272.90 million during the quarter, compared to the consensus estimate of $257.82 million. Forum Energy Technologies had a positive return on equity of 0.15% and a negative net margin of 35.15%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.04) EPS.
Large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its holdings in Forum Energy Technologies by 25.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,083 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 1,833 shares during the period. Citigroup Inc. increased its holdings in shares of Forum Energy Technologies by 588.6% in the fourth quarter. Citigroup Inc. now owns 12,181 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 10,412 shares during the period. CWM Advisors LLC increased its holdings in shares of Forum Energy Technologies by 102.0% in the fourth quarter. CWM Advisors LLC now owns 20,257 shares of the oil and gas company’s stock worth $84,000 after purchasing an additional 10,228 shares during the period. Hsbc Holdings PLC bought a new position in shares of Forum Energy Technologies in the fourth quarter worth $94,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of Forum Energy Technologies in the fourth quarter worth $107,000. 91.83% of the stock is currently owned by institutional investors.
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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