Analysts Estimations: Forum Energy Technologies, Inc. (FET)

The shares of Forum Energy Technologies, Inc. (NYSE:FET) currently has mean rating of 2.45 while 4 analysts have recommended the shares as “BUY”, 4 recommended as “OUTPERFORM” and 14 recommended as “HOLD”. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell.

The company’s mean estimate for sales for the current quarter ending Jun 16 is 143.65M by 17 analysts. The means estimate of sales for the year ending Dec-16 is 607.97M by 18 analysts.

The mean price target for the shares of Forum Energy Technologies, Inc. (FET) is at 16.81 while the highest price target suggested by the analysts is 25.00 and low price target is 10.00. The mean price target is calculated keeping in view the consensus of 20 brokerage firms.

The average estimate of EPS for the current fiscal quarter for Forum Energy Technologies, Inc. (FET) stands at -0.25 while the EPS for the current year is fixed at -0.90 by 22.00 analysts.

The next one year’s EPS estimate is set at -0.38 by 22 analysts while a year ago the analysts suggested the company’s EPS at -0.90. The analysts also projected the company’s long-term growth at -9.14% for the upcoming five years.

In its latest quarter ended on 31^st March 2016, Forum Energy Technologies, Inc. (FET) reported earnings of $-0.22. The posted earnings missed the analyst’s consensus by $-0.02 with the surprise factor of -10.00%. In the matter of earnings surprises, the term “Cockroach Effect” is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.

On May 18, 2016 Forum Energy Technologies, Inc. (FET) announced the promotion of Mr. Prady Iyyanki to the office of President and Chief Operating Officer. Mr. Iyyanki, age 45, has served as the Company’s Executive Vice President and Chief Operating Officer since January 2014. Before joining Forum, he had 17 years of experience with General Electric managing various manufacturing businesses with global responsibilities.

1. Christopher Gaut, Forum’s Chairman and Chief Executive Officer, said of the promotion, “Prady is a proven leader who has improved Forum’s operational execution and efficiency over the past two and a half years. I look forward to working even more closely with Prady as we position Forum for the future. I am confident Prady will do very well in his new role.”