Forum Energy Technologies (NYSE:FET) Issues Earnings Results, Misses Estimates By $0.01 EPS

Forum Energy Technologies (NYSE:FET) posted its quarterly earnings data on Wednesday. The oil and gas company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01), Bloomberg Earnings reports. Forum Energy Technologies had a negative return on equity of 0.34% and a negative net margin of 91.13%. The firm had revenue of $199.80 million during the quarter, compared to analyst estimates of $215.96 million.

FET stock traded down $0.08 during midday trading on Friday, reaching $1.06. The company had a trading volume of 14,891 shares, compared to its average volume of 702,960. Forum Energy Technologies has a 1 year low of $0.88 and a 1 year high of $6.78. The company has a current ratio of 3.09, a quick ratio of 1.11 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $125.93 million, a P/E ratio of -0.12 and a beta of 2.55. The company has a 50 day moving average of $1.41 and a two-hundred day moving average of $1.49.

A number of equities analysts recently commented on the stock. Barclays reaffirmed a “hold” rating and issued a $1.75 price objective on shares of Forum Energy Technologies in a research note on Friday, December 13th. ValuEngine raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Finally, Zacks Investment Research raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $2.56.

In related news, Director Andrew L. Waite bought 585,938 shares of the business’s stock in a transaction on Monday, November 25th. The stock was bought at an average price of $1.28 per share, for a total transaction of $750,000.64. Following the transaction, the director now directly owns 656,150 shares in the company, valued at $839,872. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO C Christopher Gaut bought 312,500 shares of the business’s stock in a transaction on Monday, November 25th. The stock was bought at an average price of $1.28 per share, with a total value of $400,000.00. Following the transaction, the chief executive officer now owns 2,127,833 shares in the company, valued at $2,723,626.24. The disclosure for this purchase can be found here. 28.50% of the stock is owned by corporate insiders.

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 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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