FY2017 EPS Estimates for Forum Energy Technologies Inc (FET) Reduced by Jefferies Group

Forum Energy Technologies Inc (NYSE:FET) – Investment analysts at Jefferies Group decreased their FY2017 EPS estimates for shares of Forum Energy Technologies in a report issued on Thursday. Jefferies Group analyst B. Handler now anticipates that the oil and gas company will earn ($0.37) per share for the year, down from their previous forecast of ($0.36). Jefferies Group currently has a “Hold” rating and a $17.00 target price on the stock. Jefferies Group also issued estimates for Forum Energy Technologies’ Q4 2017 earnings at ($0.04) EPS.

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

FET has been the subject of a number of other reports. Deutsche Bank initiated coverage on Forum Energy Technologies in a report on Tuesday, October 10th. They set a “hold” rating and a $17.00 price objective for the company. Scotiabank set a $24.00 price objective on Forum Energy Technologies and gave the stock a “hold” rating in a report on Thursday, October 12th. Barclays reiterated a “hold” rating and set a $17.00 price objective on shares of Forum Energy Technologies in a report on Sunday, November 5th. Zacks Investment Research downgraded Forum Energy Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, Citigroup raised their price target on Forum Energy Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.79.

Forum Energy Technologies (FET) opened at $17.10 on Monday. The company has a current ratio of 3.74, a quick ratio of 1.76 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $1,840.00, a PE ratio of -13.57 and a beta of 1.66. Forum Energy Technologies has a fifty-two week low of $10.05 and a fifty-two week high of $26.25.

A number of large investors have recently added to or reduced their stakes in FET. Schwab Charles Investment Management Inc. lifted its holdings in Forum Energy Technologies by 10.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 475,504 shares of the oil and gas company’s stock worth $7,418,000 after purchasing an additional 46,451 shares during the last quarter. Rhumbline Advisers lifted its holdings in Forum Energy Technologies by 16.8% during the 2nd quarter. Rhumbline Advisers now owns 85,909 shares of the oil and gas company’s stock worth $1,340,000 after purchasing an additional 12,377 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Forum Energy Technologies by 10.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 462,834 shares of the oil and gas company’s stock worth $7,221,000 after purchasing an additional 44,146 shares during the last quarter. Legal & General Group Plc lifted its holdings in Forum Energy Technologies by 10.9% during the 2nd quarter. Legal & General Group Plc now owns 26,844 shares of the oil and gas company’s stock worth $418,000 after purchasing an additional 2,649 shares during the last quarter. Finally, Comerica Bank lifted its holdings in Forum Energy Technologies by 34.1% during the 2nd quarter. Comerica Bank now owns 108,972 shares of the oil and gas company’s stock worth $1,596,000 after purchasing an additional 27,733 shares during the last quarter. 95.72% of the stock is owned by institutional investors and hedge funds.

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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.

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

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