NEW YORK (TheStreet) -- Forest Oil (FST) shares are flat in after-hours trading on Monday after the independent oil and gas company reported its third quarter earnings results after the closing bell today.
The company reported a break even quarter during the period this year with a net income of 0 cents per diluted share, six cents worse than the company reported during the same period last year, but five cents better than analysts' were expecting this quarter.
The company also reported a 47.5% decline from the $118.2 million it earned last year to $62.06 million, ahead of analysts' $60.85 million expectations for the period.
The stock had declined 3.81% to $1.01 in trading today.
TheStreet Ratings team rates FOREST OIL CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate FOREST OIL CORP (FST) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself, unimpressive growth in net income, weak operating cash flow and feeble growth in its earnings per share."