Forum Energy Technologies (NYSE:FET) Issues Quarterly Earnings Results

Forum Energy Technologies (NYSE:FET) released its quarterly earnings results on Thursday. The oil and gas company reported ($0.07) earnings per share (EPS) for the quarter, Zacks reports. Forum Energy Technologies had a negative net margin of 3.34% and a negative return on equity of 1.39%. The business had revenue of $205.20 million for the quarter. During the same period in the prior year, the firm earned $0.10 earnings per share.

Forum Energy Technologies Stock Down 4.4 %

Shares of NYSE:FET traded down $0.76 during midday trading on Friday, hitting $16.57. 67,163 shares of the company’s stock were exchanged, compared to its average volume of 52,606. Forum Energy Technologies has a 12 month low of $15.27 and a 12 month high of $28.73. The company has a current ratio of 2.83, a quick ratio of 1.26 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average price of $17.07 and a 200-day moving average price of $18.51.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a research report on Monday, May 6th.

About Forum Energy Technologies

Forum Energy Technologies, Inc designs, manufactures, and distributes products serving the oil, natural gas, industrial, and renewable energy industries in the United States and internationally. It operates through three segments: Drilling & Downhole, Completions, and Production. The Drilling & Downhole segment designs, manufactures, and supplies products, and provides related services to the drilling, well construction, artificial lift, and subsea energy construction and services markets, including applications in oil and natural gas, renewable energy, defense, and communications.