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

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

Forum Energy Technologies Price Performance

NYSE:FET traded down $0.13 during trading hours on Thursday, reaching $18.85. 31,449 shares of the company were exchanged, compared to its average volume of 67,623. The company has a market capitalization of $231.47 million, a P/E ratio of -4.46 and a beta of 2.38. Forum Energy Technologies has a 1-year low of $12.83 and a 1-year high of $20.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 0.87. The business has a 50 day moving average of $17.09 and a 200 day moving average of $16.18.

Insider Buying and Selling

In related news, Director Louis Raspino sold 4,950 shares of the 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 sale, the director now owns 16,121 shares of the company’s stock, valued at $248,424.61. This represents a 23.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.20% of the stock is currently owned by company 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.