Forum Energy Technologies, Inc. (NYSE:FET) – Jefferies Group boosted their Q1 2017 earnings per share (EPS) estimates for Forum Energy Technologies in a report released on Monday. Jefferies Group analyst B. Handler now anticipates that the brokerage will earn ($0.16) per share for the quarter, up from their previous forecast of ($0.17). Jefferies Group also issued estimates for Forum Energy Technologies’ Q2 2017 earnings at ($0.08) EPS, Q3 2017 earnings at ($0.01) EPS, Q4 2017 earnings at $0.08 EPS, FY2017 earnings at ($0.15) EPS, FY2018 earnings at $0.70 EPS and FY2019 earnings at $1.50 EPS.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Thursday, February 9th. The company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.02. Forum Energy Technologies had a negative net margin of 13.95% and a negative return on equity of 5.71%.

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

A number of other brokerages also recently issued reports on FET. Zacks Investment Research downgraded shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a research note on Thursday. FBR & Co lifted their price target on shares of Forum Energy Technologies from $14.00 to $18.00 and gave the stock a “mkt perform” rating in a research note on Thursday. Barclays PLC set a $24.00 price target on shares of Forum Energy Technologies and gave the stock a “buy” rating in a research note on Tuesday. TheStreet upgraded shares of Forum Energy Technologies from a “d+” rating to a “c” rating in a research note on Thursday, February 9th. Finally, Credit Suisse Group set a $25.00 price target on shares of Forum Energy Technologies and gave the stock a “buy” rating in a research note on Saturday, February 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $20.75.

Shares of Forum Energy Technologies (NYSE:FET) opened at 20.85 on Wednesday. The stock has a 50 day moving average of $22.70 and a 200-day moving average of $20.29. The firm’s market cap is $1.92 billion. Forum Energy Technologies has a 1-year low of $9.02 and a 1-year high of $26.25.

In other news, COO Prady Iyyanki sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $23.00, for a total transaction of $230,000.00. Following the completion of the sale, the chief operating officer now owns 129,151 shares in the company, valued at approximately $2,970,473. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Whelan Harris sold 10,284 shares of the business’s stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $24.00, for a total transaction of $246,816.00. Following the sale, the chief financial officer now owns 302,738 shares of the company’s stock, valued at approximately $7,265,712. The disclosure for this sale can be found here. Insiders have sold a total of 3,785,284 shares of company stock valued at $81,484,316 in the last 90 days. Insiders own 38.40% of the company’s stock.

“Q1 2017 EPS Estimates for Forum Energy Technologies, Inc. Boosted by Analyst (FET)” was first posted by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another site, it was stolen and reposted in violation of United States & international copyright & trademark laws. The original version of this story can be viewed at http://www.dailypolitical.com/2017/02/17/q1-2017-eps-estimates-for-forum-energy-technologies-inc-boosted-by-analyst-fet.html.

Several hedge funds have recently modified their holdings of FET. Strs Ohio increased its stake in shares of Forum Energy Technologies by 184.7% in the third quarter. Strs Ohio now owns 46,400 shares of the company’s stock valued at $921,000 after buying an additional 30,100 shares in the last quarter. Aberdeen Asset Management PLC UK increased its stake in shares of Forum Energy Technologies by 41.9% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 2,092,842 shares of the company’s stock valued at $46,042,000 after buying an additional 617,502 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Forum Energy Technologies by 6.3% in the third quarter. BlackRock Fund Advisors now owns 1,771,416 shares of the company’s stock valued at $35,180,000 after buying an additional 105,033 shares in the last quarter. BARING ASSET MANAGEMENT Ltd increased its stake in shares of Forum Energy Technologies by 57.1% in the third quarter. BARING ASSET MANAGEMENT Ltd now owns 630,491 shares of the company’s stock valued at $12,522,000 after buying an additional 229,073 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its stake in shares of Forum Energy Technologies by 11.4% in the third quarter. Stephens Investment Management Group LLC now owns 1,449,371 shares of the company’s stock valued at $28,785,000 after buying an additional 148,835 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

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. It operates through two segments: Drilling & Subsea, and Production & Infrastructure. Its product offering includes a mix of engineered capital products and replaced items that are used in the exploration, development, production and transportation of oil and natural gas.

5 Day Chart for NYSE:FET

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