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FET - Forum Energy Technologies: Avoid The Stock For Now
Forum Energy Technologies Inc.
FET's Outlook Is Under Pressure
Forum Energy Technologies (FET) serves the drilling, subsea, completions, production, and infrastructure business in the energy sector. I expect FET's stock price to remain depressed in the short-term. However, its margin can improve due to an improved product mix and various cost reduction initiatives. Over the medium to long term, the crude oil price can steady, in which case the returns from this stock can accelerate.
FET's new order has been falling over the past couple of quarters, while the book-to-bill ratio has stayed below one, which indicates