Forum Energy Technologies, Inc. (FET Quick QuoteFET - Free Report) operates in the Oil Field Machinery & Equipment industry which could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on FET’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Forum Energy could be a solid choice for investors.

Current Quarter Estimates for FET

In the past 30 days, 7 estimates have gone higher for Forum Energy while 2 have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 24 cents a share 30 days ago, to a loss of 19 cents today, a move of 20.8%.

Current Year Estimates for FET

Meanwhile, Forum Energy’s current year figures are also looking quite promising, with 8 estimates moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 93 cents per share 30 days ago to a loss of 78 cents per share today, an increase of 16.1%.

Bottom Line

The stock has also started to move higher lately, adding 17.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.

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