Wall Street’s Forecasts for Forum Energy Technologies



Wall Street’s forecasts for Forum Energy Technologies

In this article, we’ll look at Wall Street analysts’ forecasts for Forum Energy Technologies (FET) shares following its 1Q16 earnings release.

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Consensus rating for Forum Energy Technologies

Approximately 38% of analysts tracking Forum Energy Technologies rate it a “buy” or some equivalent. About 57% rate the company a “hold” or an equivalent. Only 5% of the analysts tracking FET recommended a “sell.” FET comprises 0.06% of the iShares Russell 2000 ETF (IWM).

In comparison, approximately 29% of analysts tracking C&J Energy Services (CJES) rate it a “buy” or some equivalent, and approximately 62% have rated it as “hold” while 9% rated it as “sell.”

Analysts’ recommendations for FET

When it comes to individual recommendations, Robert Baird gave Forum Energy Technologies a target price of $10, one of its lowest target prices, following the 1Q16 earnings release. Forum Energy Technologies currently trades near $16.70, implying an approximate return of -40% for the next 12 months. Evercore ISI gave FET a one-year target price of $19, one of its highest target prices. This implies a 13.5% return over the next year.

Among the large investment banks, Barclays (BCS) gave Forum Energy Technologies a target price of $15. This implies an approximate return of -10% at its current price over the next 12 months.

Analysts’ target prices for FET

Following its fiscal 1Q16 financial results, the highest target price for FET is $19, and the lowest is $10. The median target price, surveyed among the sell-side analysts, for FET is $14.20. FET is currently trading at ~$16.70, implying a ~15% downside at its median price.

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