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 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 2.39% and a negative net margin of 16.57%. The firm had revenue of $201.00 million during the quarter, compared to analysts’ expectations of $201.85 million.

Forum Energy Technologies Price Performance

Shares of NYSE:FET opened at $18.26 on Friday. The firm’s 50 day simple moving average is $17.23 and its 200-day simple moving average is $16.22. Forum Energy Technologies has a one year low of $12.83 and a one year 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 Transactions at Forum Energy Technologies

In other news, Director Louis Raspino sold 4,950 shares of the firm’s 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 transaction, the director now directly owns 16,121 shares of the company’s stock, valued at approximately $248,424.61. This trade represents a 23.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 6.20% of the company’s stock.

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.