Forum Energy Technologies (FET) Set to Announce Earnings on Thursday

Forum Energy Technologies (NYSE:FET) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Forum Energy Technologies to post earnings of ($0.06) per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, February 7th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.11. Forum Energy Technologies had a negative net margin of 35.15% and a positive return on equity of 0.16%. The business had revenue of $272.90 million for the quarter, compared to the consensus estimate of $257.82 million. During the same period in the previous year, the firm earned ($0.04) EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts expect Forum Energy Technologies to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Shares of FET stock opened at $5.73 on Wednesday. Forum Energy Technologies has a 12 month low of $3.51 and a 12 month high of $16.02. The firm has a market cap of $581.41 million, a PE ratio of 286.50 and a beta of 2.33. The company has a current ratio of 3.23, a quick ratio of 1.21 and a debt-to-equity ratio of 0.50.

FET has been the topic of a number of research reports. TheStreet cut shares of Forum Energy Technologies from a “c-” rating to a “d+” rating in a report on Thursday, December 27th. Capital One Financial cut shares of Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 16th. Gabelli restated a “buy” rating on shares of Forum Energy Technologies in a report on Monday, February 11th. B. Riley restated a “neutral” rating on shares of Forum Energy Technologies in a report on Tuesday, February 19th. Finally, Zacks Investment Research upgraded shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $9.73.

A hedge fund recently raised its stake in Forum Energy Technologies stock. Geode Capital Management LLC increased its position in Forum Energy Technologies Inc (NYSE:FET) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 799,256 shares of the oil and gas company’s stock after purchasing an additional 45,195 shares during the period. Geode Capital Management LLC owned approximately 0.73% of Forum Energy Technologies worth $3,300,000 at the end of the most recent reporting period. Institutional investors own 91.44% of the company’s stock.

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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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Earnings History for Forum Energy Technologies (NYSE:FET)

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