Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Forum Energy Technologies (FET) Stock Price

Headlines about Forum Energy Technologies (NYSE:FET) have trended somewhat positive on Sunday, according to Accern Sentiment Analysis. The research firm identifies positive and negative media coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of publicly-traded 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 0.06 on Accern’s scale. Accern also assigned news coverage about the oil and gas company an impact score of 46.8426240171871 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

These are some of the news articles that may have effected Accern’s analysis:

Forum Energy Technologies (NYSE FET) traded up 0.08% during mid-day trading on Friday, hitting $13.30. 1,321,197 shares of the stock traded hands. Forum Energy Technologies has a 52-week low of $10.05 and a 52-week high of $26.25. The firm’s 50-day moving average is $14.35 and its 200 day moving average is $14.94. The firm’s market cap is $1.28 billion.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. The firm had revenue of $201.10 million during the quarter, compared to analyst estimates of $194.16 million. Forum Energy Technologies had a negative return on equity of 4.55% and a negative net margin of 18.89%. Equities analysts predict that Forum Energy Technologies will post ($0.33) EPS for the current fiscal year.

FET has been the topic of a number of research reports. Deutsche Bank AG initiated coverage on shares of Forum Energy Technologies in a research report on Tuesday, October 10th. They set a “hold” rating and a $17.00 target price on the stock. Credit Suisse Group downgraded shares of Forum Energy Technologies from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $12.00 in a research report on Thursday, August 24th. Scotiabank set a $24.00 target price on shares of Forum Energy Technologies and gave the company a “hold” rating in a research report on Thursday, October 12th. Jefferies Group LLC set a $17.00 target price on shares of Forum Energy Technologies and gave the company a “hold” rating in a research report on Thursday, October 5th. Finally, Zacks Investment Research downgraded shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $18.56.

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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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