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

Forum Energy Technologies (NYSE:FET) posted its quarterly earnings data on Thursday. The oil and gas company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.58), Zacks reports. Forum Energy Technologies had a negative return on equity of 2.00% and a negative net margin of 6.07%.

Forum Energy Technologies Price Performance

NYSE:FET traded down $0.13 during mid-day trading on Thursday, hitting $18.85. 31,449 shares of the stock traded hands, compared to its average volume of 67,623. The business’s 50-day moving average price is $17.09 and its 200 day moving average price is $16.18. The company has a market cap of $231.47 million, a PE ratio of -4.46 and a beta of 2.38. Forum Energy Technologies has a 12-month low of $12.83 and a 12-month 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.

Insider Activity at Forum Energy Technologies

In other Forum Energy Technologies news, Director Louis Raspino sold 4,950 shares of Forum Energy Technologies stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $15.41, for a total transaction of $76,279.50. Following the completion of the sale, the director now directly owns 16,121 shares in the company, valued at $248,424.61. The trade was a 23.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.20% of the stock is owned by corporate insiders.

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.