FY2019 Earnings Forecast for Forum Energy Technologies Inc Issued By Gabelli (FET)

Forum Energy Technologies Inc (NYSE:FET) – Analysts at Gabelli reduced their FY2019 earnings per share estimates for Forum Energy Technologies in a report released on Monday, February 11th. Gabelli analyst S. Wong now expects that the oil and gas company will post earnings per share of ($0.05) for the year, down from their previous estimate of $0.20. Gabelli has a “Buy” rating on the stock. Gabelli also issued estimates for Forum Energy Technologies’ FY2020 earnings at $0.35 EPS, FY2021 earnings at $0.55 EPS and FY2022 earnings at $0.65 EPS.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings data on Thursday, February 7th. The oil and gas company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.11. Forum Energy Technologies had a negative net margin of 35.15% and a positive return on equity of 0.15%. The firm had revenue of $272.90 million during the quarter, compared to analyst estimates of $257.82 million. During the same quarter last year, the business posted ($0.04) EPS. The company’s revenue was up 10.2% on a year-over-year basis.

Other equities analysts have also issued research reports about the stock. TheStreet lowered shares of Forum Energy Technologies from a “c-” rating to a “d+” rating in a research note on Thursday, December 27th. Capital One Financial lowered shares of Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 16th. Citigroup decreased their price objective on shares of Forum Energy Technologies from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Monday, November 19th. Morgan Stanley set a $12.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research note on Tuesday, November 6th. Finally, Credit Suisse Group decreased their price objective on shares of Forum Energy Technologies from $12.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $11.65.

Forum Energy Technologies stock opened at $6.34 on Thursday. Forum Energy Technologies has a 52 week low of $3.51 and a 52 week high of $16.02. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.47 and a quick ratio of 1.25. The company has a market capitalization of $708.51 million, a P/E ratio of 317.00 and a beta of 2.28.

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Forum Energy Technologies by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 799,256 shares of the oil and gas company’s stock valued at $3,300,000 after buying an additional 45,195 shares during the period. Sapience Investments LLC boosted its stake in shares of Forum Energy Technologies by 45.1% during the 4th quarter. Sapience Investments LLC now owns 2,486,120 shares of the oil and gas company’s stock valued at $10,268,000 after buying an additional 772,650 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Forum Energy Technologies by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,844,794 shares of the oil and gas company’s stock valued at $24,140,000 after buying an additional 109,301 shares during the period. Thomson Horstmann & Bryant Inc. boosted its stake in shares of Forum Energy Technologies by 49.3% during the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 44,995 shares of the oil and gas company’s stock valued at $185,000 after buying an additional 14,850 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in shares of Forum Energy Technologies during the 4th quarter valued at $94,000. 92.64% of the stock is owned by institutional investors.

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 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: Outstanding Shares and The Effect on Share Price

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

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