Forum Energy Technologies (NYSE:FET) Posts Quarterly Earnings Results, Misses Expectations By $0.58 EPS

Forum Energy Technologies (NYSE:FET) released its quarterly earnings data on Thursday. The oil and gas company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.58), Zacks reports. The firm had revenue of $201.00 million during the quarter, compared to analyst estimates of $201.85 million. Forum Energy Technologies had a negative return on equity of 2.00% and a negative net margin of 6.07%.

Forum Energy Technologies Stock Performance

Shares of NYSE:FET traded down $0.93 during trading on Friday, reaching $18.06. The stock had a trading volume of 51,695 shares, compared to its average volume of 66,549. The firm has a market capitalization of $221.78 million, a price-to-earnings ratio of -4.26 and a beta of 2.38. Forum Energy Technologies has a 52 week low of $12.83 and a 52 week high of $20.85. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $17.17 and a two-hundred day simple moving average of $16.20.

Insider Buying and Selling at Forum Energy Technologies

In related news, Director Louis Raspino sold 4,950 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $15.41, for a total transaction of $76,279.50. Following the completion of the transaction, the director now owns 16,121 shares in the company, valued at $248,424.61. This trade represents a 23.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.20% of the company’s stock.

Forum Energy Technologies Company Profile

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.