FET - Forum Energy Technologies, Inc.
Chart Events
Engulfing Line (Bullish)
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 0.3679 |
| Open | 0.3695 |
| Bid | 0.3700 x 2200 |
| Ask | 0.3730 x 800 |
| Day's Range | 0.3460 - 0.3779 |
| 52 Week Range | 0.1500 - 2.9000 |
| Volume | 601,935 |
| Avg. Volume | 7,124,846 |
| Market Cap | 41.652M |
| Beta (5Y Monthly) | 4.24 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -5.3970 |
| Earnings Date | Jul 22, 2020 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 0.83 |
Fair Value
Related Research
- Business Wire
Forum Energy Technologies, Inc. Announces Preliminary Second Quarter 2020 Financial Results
Forum Energy Technologies, Inc. ("Forum" or the "Company") (NYSE: FET) today announced that revenue for the second quarter 2020 is now projected to be in the range of $110 to $115 million, a decline of approximately 37-40% from first quarter revenue of $183 million. Free cash flow after capital expenditures and interest expense for the quarter is now expected to be approximately negative $6 million. Due to the preliminary nature of this guidance, a reconciliation to cash flow from operations is not currently available. A full reconciliation will be provided with the Forum’s second quarter 2020 earnings announcement, which is currently scheduled to be released in the beginning of August 2020.
- Insider Monkey
Are Hedge Funds Right About Forum Energy Technologies Inc (FET)?
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]
- Business Wire
Forum Energy Technologies, Inc. Provides Market Update
Forum Energy Technologies, Inc. ("Forum" or the "Company") (NYSE: FET) today provided the following update on the status of its business:
- Business Wire
Forum Energy Technologies, Inc. Announces Commencement of Exchange Offer and Consent Solicitation for 6.250% Senior Notes due 2021
Forum Energy Technologies, Inc. ("Forum" or the "Company") (NYSE: FET) today announced it has commenced an offer to exchange its existing notes for new 9.00% convertible secured notes due 2025. The new notes will pay interest at the rate of 9.00% (as compared to the rate of 6.25% on the existing notes). Of such interest, 6.25% will be payable in cash and 2.75% will be payable in cash or additional notes, at the Company’s option. The new notes will mature five years from issuance (as compared to the maturity of October 1, 2021 on the existing notes). The new notes will be secured by a first lien on substantially all of the Company’s assets, except for revolving credit facility collateral, which will secure the new notes on a second lien basis (while the existing notes will remain unsecured). The new notes will also be convertible into common stock as described in more detail below.
- InterCement Financial Operations B.V. Announces The Extension Of Early Expiration Deadline With Respect To Its Exchange Offer And Consent Solicitation For Any And All Of Its 5.750% Senior Notes Due 2024PR Newswire
- AMC Entertainment Holdings, Inc. Announces Amended Exchange Offers and Consent SolicitationsBusiness Wire
- Business Wire
Forum Energy Technologies, Inc. Announces Executive Management Changes
Forum Energy Technologies, Inc. (NYSE: FET) (the "Company") announced today that, as part of its continuing cost reduction plan, the corporate executive team will be reduced and reorganized. Changes to the executive team will be effective July 10, 2020 and are as follows:
- Business Wire
Joint Press Release of Forum US, Inc. and Howe-Baker International Ltd. Regarding Settlement of Litigation
Forum US, Inc. and Howe-Baker International Ltd., Howe-Baker LLC, Howe Baker International LLC and Omid Malek (collectively "Howe Baker International Ltd.") have settled a lawsuit in which Forum US, Inc. had accused Howe-Baker International Ltd. of violating the Federal Lanham Act based on several statements that appeared on Howe-Baker International Ltd.’s website. Howe-Baker International Ltd. states such statements were inadvertently included on the website.
- Moody's
Forum Energy Technologies, Inc. -- Moody's downgrades Forum Energy's CFR to Ca; outlook negative
Moody's Investors Service ("Moody's") downgraded Forum Energy Technologies, Inc.'s (Forum) Corporate Family Rating to Ca from Caa1, Probability of Default Rating (PDR) to Ca-PD/LD (/LD appended) from Caa1-PD and senior unsecured notes rating to C from Caa2. "The downgrade of Forum's ratings reflect increased restructuring risks for the company's remaining debt as maturities approach," said Jonathan Teitel, a Moody's analyst.
- Business Wire
Forum Energy Technologies, Inc. Announces Expiration and Results of its Tender Offer and Consent Solicitation
Forum Energy Technologies, Inc. (NYSE: FET) ("Forum" or the "Company") announced today the expiration and results of its previously announced "Dutch Auction" tender offer and consent solicitation (the "Offer") for a portion of its outstanding 6.250% Senior Notes due 2021 (the "Notes") for aggregate cash consideration of up to $80.0 million.
- Business Wire
Forum Energy Technologies Announces First Quarter 2020 Results
Forum Energy Technologies, Inc. (NYSE: FET) today announced first quarter 2020 revenue of $183 million, a decrease of $17 million from the fourth quarter 2019. Net loss for the quarter was $37 million, or $0.33 per diluted share, compared to a net loss of $12 million, or $0.11 per diluted share, for the fourth quarter 2019. Excluding $15 million, or $0.13 per share of special items, adjusted net loss was $0.20 per diluted share in the first quarter 2020, compared to an adjusted net loss of $0.09 per diluted share in the fourth quarter 2019. Forum generated $1.3 million of adjusted EBITDA in the quarter, a decrease of approximately $9.4 million from the fourth quarter 2019.
- Business Wire
Forum Energy Technologies Adopts Limited Duration Stockholder Rights Plan
Forum Energy Technologies, Inc. (NYSE: FET) (the "Company") today announced that its Board of Directors has approved the adoption of a limited duration Stockholder Rights Plan (the "Rights Plan"), effective April 29, 2020. The Rights Plan is similar to plans adopted by numerous publicly traded companies.
- Business Wire
Forum Energy Technologies, Inc. Announces Extension of Early Tender and Consent Date
Forum Energy Technologies, Inc. (NYSE: FET) ("Forum" or the "Company") announced today that it is extending to 11:59 p.m., New York City Time, on May 12, 2020 the Early Tender and Consent Date (as defined in the Company’s Offer to Purchase and Consent Solicitation Statement dated April 15, 2020 (the "Statement")) of its cash tender offer (the "Offer") for an aggregate principal amount of its outstanding 6.250% Senior Notes due 2021 (the "Notes") resulting in an aggregate payment amount of up to $80.0 million (exclusive of accrued and unpaid interest). Accordingly, the Early Tender and Consent Date will occur at the same time the Offer is scheduled to expire at 11:59 P.M., New York City time, on May 12, 2020, unless extended or earlier terminated by Forum in its sole discretion, and the holders of all Notes tendered at or prior to such time will be eligible to receive the Total Consideration (as defined in the Statement) for their Notes, including the Early Tender Payment (as defined in the Statement). All of the other terms and conditions of the Offer remain unchanged. The Withdrawal Date (as defined in the Statement) prior to which Notes tendered may be validly withdrawn has passed, and Notes tendered through the expiration date of the Offer may not be validly withdrawn except under the circumstances described in the Statement.
- Business Wire
Forum Energy Technologies, Inc. Announces Change of Location for Annual Meeting of Stockholders to Be Held on May 12, 2020
Forum Energy Technologies, Inc. (NYSE:FET) ("Forum") announced today a change in the location for its 2020 Annual Meeting of Stockholders (the "Annual Meeting"). As previously announced, the Annual Meeting will be held at 8:00 a.m., Central Daylight Time, on May 12, 2020. However, due to health and safety concerns related to the coronavirus (COVID-19) outbreak, recommendations and orders from various federal, state and local governmental authorities, and out of an abundance of caution to support the health and well-being of Forum’s stockholders, employees and community, the Annual Meeting will now be held in a virtual meeting format only. There will be no physical meeting, and stockholders will not be able to attend the Annual Meeting in person.
- Business Wire
Forum Energy Technologies, Inc. Announces Commencement of Tender Offer and Consent Solicitation
Forum Energy Technologies, Inc. (NYSE: FET) ("Forum" or the "Company") today announced the commencement of a modified "Dutch Auction" tender offer and consent solicitation (the "Offer") for a portion of its outstanding 6.250% Senior Notes due 2021 (the "Notes").
- Business Wire
Forum Announces Financial Update for Current Oil Market and COVID-19
Forum Energy Technologies, Inc. (NYSE: FET) ("Forum" or, the "Company") today announced a financial update in view of the significant impact that the COVID-19 pandemic and the collapse in oil and gas prices are having on drilling and completion activity, and demand for Forum’s products. Forum is taking a number of actions in response to the current market environment, including the following:
- Moody's
Forum Energy Technologies, Inc. -- Moody's announces completion of a periodic review of ratings of Forum Energy Technologies, Inc.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Forum Energy Technologies, Inc. New York, April 03, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Forum Energy Technologies, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's assessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers, which was followed by a rating committee.
- Moody's
Forum Energy Technologies, Inc. -- Moody's downgrades Forum Energy's CFR to Caa1; outlook negative
"Forum's rating downgrade reflects increased debt refinancing risk and elevated risk of default, including from a distressed exchange," said Jonathan Teitel, Moody's Analyst. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating.
- Business Wire
Forum Energy Technologies, Inc. Announces Operational and Financial Update
Forum Energy Technologies, Inc. (NYSE: FET) (the "Company" or "Forum") today provided the following update on the status of the business: Cris Gaut, Chairman and Chief Executive Officer of the Company said, "We are closely monitoring the impact of COVID-19 to ensure the safety of our employees, while we preserve business continuity and work to meet our customers’ needs. Given the collapse in oil prices and the rapidly devolving outlook for drilling and completions spending, our guidance for the Company’s financial performance for the first quarter and full year 2020 previously provided during our fourth quarter earnings call is withdrawn and investors should no longer rely on this guidance. We expect our results of operations, including operating cash flow, for the first quarter and the full year 2020 to be negatively impacted as a result of lower demand for our products and by supply chain disruptions. This statement replaces and supersedes any previously issued guidance or forecast.
- American City Business Journals
Houston energy co. gets delisting warning as stock price plunges
The New York Stock Exchange warned Houston-based Forum Energy Technologies Inc. (NYSE: FET) that its stock price had dropped too low earlier this month and that it was at risk for delisting from the exchange if the company doesn’t fix the problem. Forum Energy’s 30-day average stock price has dropped below $1 per share — the NYSE’s continued listing threshold — according to a warning the NYSE sent to Forum on March 10, the day after a sharp decline in Forum’s share price.
- Business Wire
Forum Energy Technologies Receives Continued Listing Standard Notice from NYSE
Forum Energy Technologies, Inc. (NYSE: FET) (the "Company") today announced that on March 10, 2020, the Company was notified by the New York Stock Exchange of its noncompliance with continued listing standards because the average closing price of shares of its common stock over a prior 30 consecutive trading day period had fallen below $1.00 per share, which is the minimum average closing price per share required to maintain listing on the NYSE. The Company’s Board of Directors is reviewing all available alternatives to return to compliance with the NYSE continued listing standards. Accordingly, the Board of Directors has currently authorized the Company to propose for stockholder approval a reverse stock split with a ratio of not less than one-for-ten (1:10) and not more than one-for-twenty five (1:25) at the annual meeting of stockholders currently expected to be held in May 2020.
- Thomson Reuters StreetEvents
Edited Transcript of FET earnings conference call or presentation 13-Feb-20 3:00pm GMT
Q4 2019 Forum Energy Technologies Inc Earnings Call
- Zacks
Forum Energy Technologies (FET) Expected to Beat Earnings Estimates: Should You Buy?
Forum Energy (FET) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- Moody's
Forum Energy Technologies, Inc. -- Moody's downgrades Forum Energy Technologies' notes to B3; outlook remains negative
Rating Action: Moody's downgrades Forum Energy Technologies' notes to B3; outlook remains negative. Global Credit Research- 22 Jan 2020. New York, January 22, 2020-- Moody's Investors Service downgraded ...
- Insider Monkey
Were Hedge Funds Right About Souring On Forum Energy Technologies Inc (FET)?
Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]
- Simply Wall St.
Have Insiders Been Buying Forum Energy Technologies, Inc. (NYSE:FET) Shares?
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly...
