Capital One Financial Corporation Equities Analysts Lift Earnings Estimates for Forum Energy Technologies, Inc. (FET)

Forum Energy Technologies, Inc. (NYSE:FET) – Research analysts at Capital One Financial Corporation lifted their FY2018 earnings per share (EPS) estimates for shares of Forum Energy Technologies in a research report issued to clients and investors on Thursday. Capital One Financial Corporation analyst J. Gibney now anticipates that the oil and gas company will post earnings per share of $0.12 for the year, up from their prior estimate of $0.09. Capital One Financial Corporation has a “Equal Weight” rating on the stock.

Forum Energy Technologies (NYSE:FET) last released its earnings results on Thursday, July 27th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.01. Forum Energy Technologies had a negative return on equity of 4.55% and a negative net margin of 18.89%. The business had revenue of $201.10 million during the quarter, compared to the consensus estimate of $194.16 million.

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Other equities analysts have also recently issued reports about the company. Barclays PLC cut Forum Energy Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $24.00 to $16.00 in a report on Wednesday, July 12th. Cowen and Company reissued a “hold” rating and set a $15.00 price target on shares of Forum Energy Technologies in a report on Tuesday, July 11th. Scotiabank set a $24.00 price target on Forum Energy Technologies and gave the company a “hold” rating in a report on Thursday. Zacks Investment Research raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, BidaskClub upgraded Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. Forum Energy Technologies has a consensus rating of “Hold” and a consensus target price of $18.73.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FET. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Forum Energy Technologies during the second quarter worth $232,000. Sterling Capital Management LLC lifted its stake in shares of Forum Energy Technologies by 35.0% during the second quarter. Sterling Capital Management LLC now owns 143,111 shares of the oil and gas company’s stock worth $2,233,000 after buying an additional 37,111 shares during the period. California State Teachers Retirement System lifted its stake in shares of Forum Energy Technologies by 3.4% during the second quarter. California State Teachers Retirement System now owns 122,266 shares of the oil and gas company’s stock worth $1,907,000 after buying an additional 4,034 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Forum Energy Technologies by 18.0% during the second quarter. The Manufacturers Life Insurance Company now owns 55,346 shares of the oil and gas company’s stock worth $863,000 after buying an additional 8,454 shares during the period. Finally, BlueCrest Capital Management Ltd lifted its stake in shares of Forum Energy Technologies by 194.4% during the second quarter. BlueCrest Capital Management Ltd now owns 132,651 shares of the oil and gas company’s stock worth $2,069,000 after buying an additional 87,589 shares during the period.

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.

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

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