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Forum Energy Technologies (FET) Gains But Lags Market: What You Should Know

Zacks Equity Research
Crane (CR) delivered earnings and revenue surprises of 1.94% and 0.61%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?

Forum Energy Technologies (FET) closed the most recent trading day at $3.83, moving +0.26% from the previous trading session. The stock lagged the S&P 500's daily gain of 2.14%. Elsewhere, the Dow gained 2.06%, while the tech-heavy Nasdaq added 2.65%.

Prior to today's trading, shares of the provider of manufactured technologies and applied products in the energy sector had lost 33.74% over the past month. This has lagged the Oils-Energy sector's loss of 5.45% and the S&P 500's loss of 6.63% in that time.

FET will be looking to display strength as it nears its next earnings release. In that report, analysts expect FET to post earnings of -$0.02 per share. This would mark a year-over-year decline of 100%. Meanwhile, our latest consensus estimate is calling for revenue of $273.25 million, down 0.27% from the prior-year quarter.

FET's full-year Zacks Consensus Estimates are calling for earnings of -$0.07 per share and revenue of $1.12 billion. These results would represent year-over-year changes of -450% and +4.92%, respectively.

Investors should also note any recent changes to analyst estimates for FET. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. FET is currently a Zacks Rank #1 (Strong Buy).

The Oil and Gas - Mechanical and and Equitment industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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