Equities research analysts expect that Forum Energy Technologies Inc (NYSE:FET) will post earnings per share of ($0.06) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Forum Energy Technologies’ earnings, with the lowest EPS estimate coming in at ($0.07) and the highest estimate coming in at ($0.04). Forum Energy Technologies reported earnings of ($0.04) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 50%. The firm is scheduled to announce its next quarterly earnings results on Thursday, April 23rd.
On average, analysts expect that Forum Energy Technologies will report full year earnings of ($0.13) per share for the current financial year, with EPS estimates ranging from ($0.19) to ($0.05). For the next year, analysts anticipate that the firm will report earnings of $0.02 per share, with EPS estimates ranging from ($0.10) to $0.11. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Forum Energy Technologies.
Forum Energy Technologies (NYSE:FET) last posted its earnings results on Wednesday, February 12th. The oil and gas company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Forum Energy Technologies had a negative return on equity of 0.34% and a negative net margin of 91.13%.
FET has been the topic of a number of recent research reports. ValuEngine upgraded shares of Forum Energy Technologies from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Zacks Investment Research upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a report on Tuesday. Finally, Barclays reaffirmed a “hold” rating and set a $1.75 target price on shares of Forum Energy Technologies in a research report on Friday, December 13th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Forum Energy Technologies has a consensus rating of “Hold” and an average target price of $2.56.
In other news, CEO C Christopher Gaut acquired 312,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $1.28 per share, for a total transaction of $400,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,127,833 shares in the company, valued at approximately $2,723,626.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew L. Waite bought 585,938 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $1.28 per share, with a total value of $750,000.64. Following the purchase, the director now directly owns 656,150 shares of the company’s stock, valued at $839,872. The disclosure for this purchase can be found here. 28.50% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Diversified Trust Co bought a new stake in shares of Forum Energy Technologies in the 4th quarter valued at $25,000. SG Americas Securities LLC boosted its stake in Forum Energy Technologies by 77.8% during the third quarter. SG Americas Securities LLC now owns 25,896 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 11,332 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Forum Energy Technologies by 34.5% during the third quarter. Gamco Investors INC. ET AL now owns 56,864 shares of the oil and gas company’s stock worth $88,000 after acquiring an additional 14,600 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Forum Energy Technologies in the third quarter worth $198,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Forum Energy Technologies by 167.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 160,557 shares of the oil and gas company’s stock worth $270,000 after purchasing an additional 100,585 shares during the period. Hedge funds and other institutional investors own 79.43% of the company’s stock.
FET stock opened at $1.14 on Friday. The company has a fifty day moving average price of $1.41 and a 200-day moving average price of $1.49. The company has a market capitalization of $125.93 million, a P/E ratio of -0.13 and a beta of 2.55. Forum Energy Technologies has a 52-week low of $0.88 and a 52-week high of $6.78. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.11 and a current ratio of 3.09.
About Forum Energy Technologies
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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