Forum Energy Technologies Inc (FET) reported quarterly earnings results on Thursday, Apr-28-2016. The company reported $-0.22 earnings per share for the quarter, missing the analyst consensus estimate by $-0.02. Analysts had a consensus of $-0.20. The company posted revenue of $159.40 million in the period, compared to analysts expectations of $165.69 million. The company’s revenue was down -54.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.
Many Wall Street Analysts have commented on Forum Energy Technologies Inc. Shares were Reiterated by FBR Capital on Mar 23, 2016 to “Outperform” and Lowered the Price Target to $ 11 from a previous price target of $13 .Forum Energy Technologies Inc was Downgraded by Citigroup to ” Neutral” on Mar 18, 2016. Shares were Reiterated by FBR Capital on Feb 29, 2016 to “Outperform” and Lowered the Price Target to $ 13 from a previous price target of $16 .
Forum Energy Technologies Inc opened for trading at $14.97 and hit $15.65 on the upside on Wednesday, eventually ending the session at $15.32, with a gain of 3.10% or 0.46 points. The heightened volatility saw the trading volume jump to 7,67,912 shares. Company has a market cap of $1,390 M.
In a different news, on Sep 8, 2015, Evelyn M Angelle (director) purchased 26,000 shares at $15.00 per share price. According to the SEC, on Jul 31, 2015, Terence M Otoole (director) purchased 200,000 shares at $15.18 per share price.
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. 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. Its capital products are targeted at drilling rig equipment for rigs upgrades and refurbishment projects; subsea construction and development projects; the placement of production equipment on producing wells and downstream capital projects. Its engineered systems are components used on drilling rigs or in the course of subsea operations while its consumable products are used to maintain operations at well sites in the well construction process within the supporting infrastructure and at processing centers and refineries. Its segments are Drilling & Subsea and Production & Infrastructure.