Forum Energy Technologies (NYSE:FET) Earning Somewhat Positive News Coverage, Analysis Shows

Media stories about Forum Energy Technologies (NYSE:FET) have trended somewhat positive recently, according to Accern. The research firm ranks the sentiment of press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Forum Energy Technologies earned a media sentiment score of 0.19 on Accern’s scale. Accern also gave headlines about the oil and gas company an impact score of 83 out of 100, indicating that recent press coverage is very likely to have an effect on the stock’s share price in the near term.

Here are some of the headlines that may have effected Accern Sentiment Analysis’s rankings:

Shares of Forum Energy Technologies (NYSE:FET) traded down 11.11% during midday trading on Friday, hitting $13.60. 2,216,637 shares of the company were exchanged. The firm’s market capitalization is $1.30 billion. Forum Energy Technologies has a one year low of $13.55 and a one year high of $26.25. The firm’s 50 day moving average price is $15.56 and its 200 day moving average price is $18.62.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.01. The company had revenue of $201.10 million for the quarter, compared to analyst estimates of $194.16 million. Forum Energy Technologies had a negative net margin of 12.50% and a negative return on equity of 5.16%. Analysts forecast that Forum Energy Technologies will post ($0.30) EPS for the current fiscal year.

A number of brokerages have issued reports on FET. Wolfe Research cut shares of Forum Energy Technologies from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $24.00 to $21.00 in a research note on Monday, April 17th. Zacks Investment Research raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Tuesday, April 18th. Jefferies Group LLC set a $22.00 price objective on shares of Forum Energy Technologies and gave the company a “hold” rating in a research note on Thursday, April 27th. BidaskClub raised shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, Societe Generale began coverage on shares of Forum Energy Technologies in a research note on Wednesday, June 7th. They issued a “buy” rating and a $20.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $20.76.

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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.

Insider Buying and Selling by Quarter for Forum Energy Technologies (NYSE:FET)

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