Forum Energy Technologies (FET) Issues Earnings Results, Beats Estimates By $0.01 EPS

Forum Energy Technologies (NYSE:FET) issued its quarterly earnings data on Monday. The oil and gas company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01, reports. The firm had revenue of $267.00 million during the quarter, compared to the consensus estimate of $283.19 million. Forum Energy Technologies had a negative return on equity of 1.72% and a net margin of 5.08%. The firm’s revenue was up 34.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.10) EPS.

NYSE:FET opened at $8.09 on Tuesday. Forum Energy Technologies has a 1 year low of $7.97 and a 1 year high of $17.95. The firm has a market capitalization of $937.02 million, a PE ratio of -21.29 and a beta of 2.02. The company has a quick ratio of 1.22, a current ratio of 3.34 and a debt-to-equity ratio of 0.33.

A number of research analysts recently commented on FET shares. Johnson Rice downgraded Forum Energy Technologies from a “buy” rating to an “accumulate” rating and set a $15.00 price objective for the company. in a research note on Monday, September 17th. Zacks Investment Research upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Thursday, August 2nd. Morgan Stanley began coverage on Forum Energy Technologies in a research note on Tuesday, September 18th. They set an “equal weight” rating and a $13.00 price objective for the company. ValuEngine raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Finally, Barclays set a $12.00 price target on Forum Energy Technologies and gave the stock a “hold” rating in a research note on Wednesday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. Forum Energy Technologies presently has an average rating of “Hold” and an average target price of $13.27.

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.

Further Reading: What is Considered a Good Return on Equity (ROE)?

Earnings History for Forum Energy Technologies (NYSE:FET)

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