Forum Energy Technologies (FET) Receiving Somewhat Favorable Press Coverage, Study Finds

Media headlines about Forum Energy Technologies (NYSE:FET) have trended somewhat positive recently, according to Accern. The research firm identifies negative and positive press coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Forum Energy Technologies earned a media sentiment score of 0.18 on Accern’s scale. Accern also gave headlines about the oil and gas company an impact score of 45.5865774729878 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

These are some of the news stories that may have effected Accern’s analysis:

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A number of equities analysts recently commented on the company. Deutsche Bank decreased their target price on Forum Energy Technologies from $17.00 to $16.00 and set a “hold” rating for the company in a report on Monday, February 12th. Piper Jaffray set a $13.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a research note on Monday, February 12th. Barclays set a $15.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a research note on Monday, February 12th. Zacks Investment Research raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase dropped their target price on Forum Energy Technologies from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $15.79.

Shares of FET traded down $0.50 during trading hours on Friday, hitting $11.05. The company had a trading volume of 787,512 shares, compared to its average volume of 1,310,800. The firm has a market cap of $1,172.23, a price-to-earnings ratio of -29.08 and a beta of 1.90. The company has a current ratio of 3.65, a quick ratio of 1.61 and a debt-to-equity ratio of 0.36. Forum Energy Technologies has a one year low of $10.05 and a one year high of $21.67.

Forum Energy Technologies (NYSE:FET) last announced its earnings results on Thursday, February 8th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). Forum Energy Technologies had a negative net margin of 6.99% and a negative return on equity of 2.98%. The business had revenue of $247.70 million for the quarter, compared to analyst estimates of $249.85 million. During the same period in the prior year, the company earned ($0.16) earnings per share. The company’s quarterly revenue was up 68.4% on a year-over-year basis. equities research analysts forecast that Forum Energy Technologies will post 0.01 EPS for the current year.

In related news, CEO Prady Iyyanki bought 90,000 shares of the stock in a transaction dated Friday, March 2nd. The shares were purchased at an average price of $10.63 per share, for a total transaction of $956,700.00. Following the completion of the purchase, the chief executive officer now directly owns 443,417 shares of the company’s stock, valued at $4,713,522.71. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 32.80% of the stock is currently owned by insiders.

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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 in 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.

Insider Buying and Selling by Quarter for Forum Energy Technologies (NYSE:FET)

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