Highlights

William Blair Analysts Initiate Coverage on Forum Energy Technologies (FET)

 Source: ABMN Staff   |   Publish date: Tue, 18 Sep 11:46   |    >> Read article in News website

Equities researchers at William Blair began coverage on shares of Forum Energy Technologies (NYSE: FET) in a report issued on Tuesday. The firm set an “outperform” rating on the stock.

Forum Energy Technologies traded up 0.44% on Tuesday, hitting $25.39. Forum Energy Technologies has a 1-year low of $18.60 and a 1-year high of $25.69. The company has a market cap of $2.177 billion and a price-to-earnings ratio of 12.79.

Forum Energy Technologies last posted its quarterly earnings results on Friday, July 27th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. The company’s revenue for the quarter was up 45.5% on a year-over-year basis. Analysts expect that Forum Energy Technologies will post $1.93 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on FET. Analysts at Jefferies Group initiated coverage on shares of Forum Energy Technologies in a research note to investors on Wednesday, September 12th. They set a “buy” rating on the stock. Separately, analysts at Stephens initiated coverage on shares of Forum Energy Technologies in a research note to investors on Friday, August 24th. They set an “overweight” rating and a $27.00 price target on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of Forum Energy Technologies from $29.00 to $27.00 in a research note to investors on Monday, August 6th.

Forum Energy Technologies, Inc. is an oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry.

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