Shares of Forum Energy Technologies Inc (NYSE:FET) have been given a consensus rating of “Hold” by the fifteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $8.98.
Several equities research analysts recently issued reports on FET shares. Zacks Investment Research upgraded shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research report on Wednesday, March 6th. Citigroup upgraded shares of Forum Energy Technologies from a “neutral” rating to a “buy” rating in a research report on Thursday, March 14th. Barclays dropped their price target on shares of Forum Energy Technologies from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 9th. Piper Jaffray Companies set a $7.00 price target on shares of Forum Energy Technologies and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, Bank of America reiterated a “neutral” rating and set a $3.50 price target (down from $7.00) on shares of Forum Energy Technologies in a research report on Tuesday.
Institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its position in shares of Forum Energy Technologies by 25.3% during the fourth 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 last quarter. Citigroup Inc. boosted its stake 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 valued at $50,000 after purchasing an additional 10,412 shares during the period. Pearl River Capital LLC purchased a new position in shares of Forum Energy Technologies in the first quarter valued at approximately $70,000. Keystone Financial Group purchased a new position in shares of Forum Energy Technologies in the first quarter valued at approximately $77,000. Finally, Commerce Bank boosted its stake in shares of Forum Energy Technologies by 16.9% in the first quarter. Commerce Bank now owns 15,980 shares of the oil and gas company’s stock valued at $82,000 after purchasing an additional 2,310 shares during the period. Institutional investors and hedge funds own 89.73% of the company’s stock.
Forum Energy Technologies stock traded up $0.15 during midday trading on Friday, hitting $3.40. 30,519 shares of the stock were exchanged, compared to its average volume of 1,011,893. Forum Energy Technologies has a fifty-two week low of $3.09 and a fifty-two week high of $13.40. The firm has a market cap of $357.21 million, a PE ratio of 173.25 and a beta of 2.55. The stock’s 50-day moving average price is $4.26. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 1.16.
Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Thursday, April 25th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. Forum Energy Technologies had a negative net margin of 37.76% and a positive return on equity of 0.40%. The firm had revenue of $271.80 million during the quarter, compared to analysts’ expectations of $264.48 million. During the same period last year, the business earned ($0.07) earnings per share. Forum Energy Technologies’s revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts anticipate that Forum Energy Technologies will post -0.06 EPS for the current fiscal year.
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 through 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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